Charles Schwab Custody Protection.
Charles Schwab Custody Protection. Shore Point Advisors is an independent Registered Investment Advisor (RIA), providing clients with the same asset protection that is administered to Charles Schwab accounts.
SIPC Protection.
Charles Schwab Investment Management, Inc. is a member of the Securities Investor Protection Corporation (SIPC). Securities in your account protected up to $500,000, which includes a $250,000 limit for cash. For details, please see www.sipc.org.
FDIC Protection.
Charles Schwab FDIC Insured Deposit Accounts (IDA) are insured by the Federal Deposit Insurance Corporation (FDIC). The standard FDIC insurance provides up to $250,000 per depositor per insured bank based on an ownership category. So you could get insurance for an individual account and additional insurance for a joint account. The same applies to trust accounts. All of the deposits at Schwab Bank are protected by FDIC insurance.
Additional coverage.
Additionally, Charles Schwab provides each client $149.5 million worth of protection for securities and $2 million of protection for cash through supplemental coverage provided by London insurers. In the event of a brokerage insolvency, a client may receive amounts due from the trustee in bankruptcy and then SIPC. Supplemental coverage is paid out after the trustee and SIPC payouts and under such coverage each client is limited to a combined return of $152 million from a trustee, SIPC, and London insurers. The Charles Schwab supplemental coverage has an aggregate limit of $500 million over all customers. These protections provide coverage in the event of brokerage insolvency and do not protect against loss in market value of securities.
This website is a publication of Shore Point Advisors LLC, d/b/a Shore Point Advisors. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors on the date of publication and are subject to change.
Website content should not be viewed as personalized investment advice. A professional adviser should be consulted before implementing any of the strategies presented. Content should not be construed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities discussed.
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Shore Point Advisors is an investment adviser located in Brielle, New Jersey. Shore Point Advisors is registered with the Securities and Exchange Commission (SEC). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Shore Point Advisors only transacts business in states in which it is properly registered or is excluded or exempted from registration. Insurance products and services are offered through JCL Financial, LLC (“JCL”). Shore Point Advisors and JCL are affiliated entities.
Always consult an attorney or tax professional regarding your specific legal or tax situation. The firm is not engaged in the practice of law or accounting.
All investment strategies have the potential for profit or loss. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment or strategy will be suitable or profitable for a client’s investment portfolio.
Persons providing investment advice on behalf of our firm are licensed as insurance agents. These persons will earn commission-based compensation for selling insurance products, including insurance products they sell to you. Insurance commissions earned by these persons are separate from our advisory fees.
