Our Clearing Firm, Pershing LLC  

Pershing LLC (member FINRA^TM, NYSE, SIPC®) is a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organizations and independent registered investment advisors in over 40 countries who collectively represent over five million active investors. Located in 19 offices worldwide, Pershing is committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support, and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, the Irish Stock Exchange, and the London Stock Exchange. Pershing LLC is a subsidiary of The Bank of New York Mellon Corporation. Additional information is available at www.pershing.com.    

Key Facts about Pershing LLC

• Has over $873 billion in assets under administration. The Bank of New York Mellon has $22.4 trillion in assets under custody and administration.
  
• The industry's largest global outsourcing provider, offering:
  - Clearance in more than 60 markets
  - Order execution in 45 markets
  - Foreign exchange in 50 currencies
  
• Serves more than 300 international financial organizations.
  
• Employs more than 5,000 associates in North America, Europe, Asia, and Australia.
  
• Associates hold more than 250 membership positions on approximately 150 industry committees, boards, and task forces.
  
• Led by a stable and experienced management team, with an average tenure of 17 years. 

Functions of Pershing LLC

• Generates customer statements
• Provides execution and clearance of equity trades
• Maintains a large bond inventory
• Custodies customers assets
• Provides customers online access to accounts
• Extensive products available including cash management (banking) services, retirement plans, and advisory services 

General securities transactions executed with The Investment Center are cleared through Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation, member FINRA^TM and SIPC. Accounts are protected within certain limits for the net equity of securities positions and cash in the account. Of that total, the Securities Investor Protection Corporation (SIPC) provides $500,000 of net equity protection, including $100,000 for claims for cash awaiting reinvestment (SIPC protection). Visit www.sipc.org for more information about SIPC. Pershing provides the additional protection through a commercial insurer on terms similar to SIPC for account net equity in excess of $500,000, up to an overall aggregate level of $1 billion, of which $1.9 million may cover cash awaiting reinvestment at the individual account level. Account protection applies when a SIPC member firm fails financially and is unable to meet obligations to securities clients; it does not protect against loss due to market fluctuation. The Investment Center does not provide tax or legal advice. Be sure to consult with your own tax and legal advisors before taking any action that would have tax consequences.