TD Ameritrade is a wholly owned subsidiary of The Charles Schwab Corporation, a financially stable company committed to its continued financial health and serving its clients. The Corporation’s capital structure and liquidity are sound, and we continue to operate the firm to minimize investment risks.
All customer accounts at Schwab are protected by SEC and FINRA regulations which prevent brokerage firms from using customer assets to finance their own proprietary businesses. Moreover, customers’ securities are segregated from Schwab’s own assets in accordance with the SEC’s Customer Protection Rule.
Specific to the TD Ameritrade broker dealer:
TD Ameritrade is a member of the Securities Investor Protection Corporation ("SIPC"), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). An explanatory brochure is available upon request at www.sipc.org.
Additionally, TD Ameritrade 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.
Additional brokerage insurance—in addition to SIPC protection—is provided to Charles Schwab & Co., Inc. accounts through underwriters in London. Schwab’s coverage with Lloyd's of London and other London insurers, combined with SIPC coverage, provides protection of securities and cash up to an aggregate of $600 million, and is limited to a combined return to any customer from a Trustee, SIPC, and London insurers of $150 million, including cash of up to $1,150,000. This additional protection becomes available in the event that SIPC limits are exhausted.
Altruist Financial LLC is a member of the Securities Investor Protection Corporation (SIPC), which means securities held in your brokerage account are protected up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org. We also participate in a bank sweep program, which means cash held in your brokerage account earns interest and becomes eligible for Federal Deposit Insurance Corporation (FDIC) Insurance up to $250,000 through an overnight cash sweep program where it is swept to FDIC member institutions. Cash balances are not eligible for FDIC insurance until they are swept to a member FDIC institution(s), and cash balances are not eligible for SIPC protection after being swept to a sweep program bank(s). This is to say that cash balances at any given time are covered by one type of protection or insurance or the other, but never both. Neither Altruist Financial LLC nor any of its affiliates is a bank.
Clearing and custody of all securities are provided by Apex Clearing Corporation (Apex). Like Altruist Financial LLC, Apex is a member of SIPC, and securities in your account will be protected up to $500,000 ($250,000 as to cash claims) under SIPC. Apex has also acquired, through an independent insurer, supplemental insurance coverage, additional coverage that 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.
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