Covell Financial is an Institutional Investor partner with TD Ameritrade:
We considered quite a few companies before deciding to partner with TD Ameritrade. We needed a well-known company to act as the custodian of our clients’ funds. Given some unfortunate circumstances in the last few years with the the loss of client funds through misappropriation, we decided that we would never want to physically possess or control any of our clients’ funds. All client funds and investments are with TD Ameritrade where they are safe and protected.
For many clients asset security is, without question, the #1 priority. With TD Ameritrade, your money is with one of the world’s largest discount brokerage firms, with local branches nationwide. With that comes a commitment to both excellent client service and account information protection. While no security system is absolutely impenetrable, TD Ameritrade has made substantial investments in leading-edge security software, systems, and procedures — and is constantly reviewing, refining, and upgrading its infrastructure.
TD Ameritrade, Inc., is a member of the Securities Investor Protection Corporation (SIPC). Securities in your account protected up to $500,000. For details, please visit 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. 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 TD Ameritrade supplemental coverage has an aggregate limit of $500 million over all customers. This policy provides coverage following brokerage insolvency and does not protect against loss in market value of the securities. In addition, we’ll always keep you informed. You’ll receive a clear, concise statement every month that summarizes all of your portfolio positions — stocks, bonds, mutual funds, and cash — including all balances, dividends, and transactions. A duplicate monthly statement is also sent to your advisor, Covell Financial.