SIPC Insurance

Member of SIPC — which protects the securities of customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.SIPC.org. As a member of the Securities Investor Protection Corporation (SIPC) funds are available to meet customer claims up to a maximum of $500,000 in cash and securities with a $250,000 cash maximum.

Additionally, our clearing firm provides protection for securities and cash up to an aggregate of $150 million, subject to maximum limits of $37.5 million for any one customer’s securities and $900,000 for any one customer’s cash. This “insurance above SIPC coverage” protection is in addition to the protection provided by the Securities and Investors Protection Act, which is administered by SIPC and is subject to certain conditions and limitations, details of which are available upon request.

Note that SIPC and insurance above SIPC coverage provides coverage against loss of securities and cash through the insolvency of a brokerage firm, not against market depreciation, fluctuation in market value of your securities or trading losses.