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Direct Accounts with TD Ameritrade
As an independent Registered Investment Advisor (RIA), WALT ST does not take custody of any client funds or securities. In order to help facilitate clients who do not have a broker/dealer custodian preference and want WALT ST money management service, WALT ST has developed a working relationship with TD Waterhouse.
TD Ameritrade as a Broker/Dealer custodian helps WALT ST efficiently and effectively research, manage, transact, custody, and report on investments in your account.
The process is simple. You set up a Brokerage Accounts or Retirement Accounts at TD Ameritrade. Your money and/or securities are placed in a separate account under your name and your retain all rights and ownership of the account. During the account opening process you give WALT ST certain authorizations within the paperwork that enables us to effectively manage and service your account.
Other services provided by TD Ameritrade include:
Execution and Clearing
As a New York Stock Exchange member firm, TD Ameritrade has direct access to the exchange floor, as well as all other major market centers, at all times throughout the trading day. TD Ameritrade also has the capability to execute orders on option and regional exchanges. The access to all major markets assures you of prompt and professional execution of your orders.
TD Ameritrade utilizes the clearing services of its affiliate, National Investor Services Corp. (NISC). NISC clears and settles monies and securities for TD Ameritrade and other brokerage firms throughout the U.S. Clearing your transactions through TD Ameritrade’s own affiliate allows TD Ameritrade to maintain the TD Ameritrade service standard and gives TD Ameritrade complete control of the services it offers.
Account Protection
The securities in your TD Ameritrade brokerage account are protected up to $150 million per customer. The first $500,000 of coverage is provided by Securities Investor Protection Corporation (SIPC), of which up to $100,000 covers cash. A SIPC explanatory brochure is available upon request by calling 1-800-934-6124 or online at www.sipc.org. The remaining coverage is provided through Lloyd's London. Please note that this account protection does not protect against losses due to market fluctuation.
Consolidated Account Statements and Reporting
As a client, you receive monthly statements detailing all security positions, dividends, and
transactions held in their accounts. Tax reporting includes a detailed year-end summary statement with important information for completing tax returns.
Management Fee Deduction Service
With authorization TD Ameritrade Institutional Services can deduct investment advisory fees from your accounts and pay WALT ST directly.
There are important disclosures we need to communicate and therefore it is recommended that you review our ADV part II to fully understand the use of TD Ameritrade as a broker/dealer custodian. The choice is ultimately yours.
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