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Clearing Firm

National Financial is a Fidelity Investments® company and a leading provider of clearing and custody solutions for over 30 years.  

Fidelity Investments® is one of the world’s largest providers of financial services. For more information about Fidelity Investments, visit Fidelity.com.

Securities in accounts carried by National Financial Services, LLC ("NFS") are protected in accordance with the Securities Investor Protection Corporation (SIPC) up to $500,000. For claims filed on or after July 22, 2010, the $500,000 total amount of SIPC protection is inclusive of up to $250,000 protection for claims for cash, subject to periodic adjustments for inflation in accordance with terms of the SIPC statute and approval by SIPC's Board of Directors. NFS has also arranged for coverage above these limits.  Neither coverage protects against a decline in the market value of securities, nor does either coverage extend to certain securities that are considered ineligible for coverage.  For more details on SIPC, or to request a SIPC brochure, visit www.sipc.org or call 202.371.8300.   

“Excess of SIPC” Coverage In addition to SIPC protection, NFS provides for brokerage accounts additional “excess of SIPC” coverage through Lloyd’s of London, together with other insurers.*  

The excess of SIPC coverage will be used only when SIPC coverage is exhausted. Like SIPC protection, excess of SIPC protection does not cover investment losses in customer accounts due to market fluctuation. It also does not cover other claims for losses incurred while broker-dealers remain in business. Total aggregate excess of SIPC coverage available through NFS’s excess of SIPC policy is $1 billion. Within NFS’s excess of SIPC coverage, there is no per-account dollar limit on coverage of securities, but there is a per-account limit of $1.9 million on coverage of cash. This is the maximum excess of SIPC protection currently available in the brokerage industry.   Lloyd’s of London currently has an A (Excellent) rating with “Stable Outlook” from the ratings firm A.M. Best and an A+ (Strong) rating with “Stable Outlook” from Fitch Ratings and Standard & Poor’s.†  

*Fidelity’s excess of SIPC insurance is provided by Lloyd’s of London, together with AXIS Specialty Europe Ltd. and Munich Re.

†As of December 2012, and subject to change. For ratings explanations, please go to http://www.lloyds.com/ Lloyds_Market/Ratings/.