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Our Relationship with First Clearing, LLC
Headquartered in Richmond, Virginia, First Clearing Corporation (FCC) provides quality securities-execution and brokerage-clearance services to more than 60 local, regional, and national securities firms throughout the United States. First Clearing, LLC is also a member of the New York Stock Exchange, NASDAQ, and other major exchanges.
As part of our commitment to providing the highest quality of service, we have formed a strategic business alliance with FCC that brings us the benefit of a firm with a long heritage in the full-service brokerage business and the strength of being affiliated with Wachovia, the sixth-largest bank holding company in the U.S. This relationship gives us more than 700 service-driven associates--to offer unparalleled products, services, technology, and operations support.
A Partnership that Benefits the Client Through our alliance with FCC, we offer a broad array of high-quality financial services at competitive prices. This allows us to develop solutions for our clients' unique financial needs and provides them with the information and resources to invest intelligently in today's fast-moving securities markets.
Advanced Technology In addition to providing superior trade executions, FCC furnishes our firm with state-of-the-art tools that open the doors to major financial markets around the world. On-line communications allow our financial consultants to provide you with instant access to current securities quotes, top news, and up-to-the-minute information on your investments.
Operations and Execution Support First Clearing, LLC provides our firm with efficient execution services for trading stocks, bonds, and other securities on our behalf. In addition, they properly document and clear all transactions, including collection and payment of dividends and interest, processing corporate reorganizations, trade confirmations, monthly or quarterly statements, custody of assets, and annual tax-reporting summaries.
$100 Million in Account Protection First Clearing Corporation enables us to provide securities in accounts with up to $500,000 in account protection (cash up to $100,000) through the Securities Investor Protection Corporation (SIPC). An additional $99.5 million of protection is provided at no cost, for total protection of up to $100 million. This protection does not cover any decline in the market value of investments, and certain related accounts may have one aggregate limit.
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