White Pacific Securities provides one of the highest levels of account coverage in the brokerage industry - at no additional cost to you. Your stocks, bonds, mutual funds, options, and certificates of deposit are all protected by the SIPC and excess insurance.
For more information on Account Protection, call our Customer Support Center at 1-888-882-8856 or 1-415-901-0322.
| Q: | What account protection does White Pacific provide? |
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| A: | Your account is protected up to its total net equity with Ridge Clearing & Outsourcing Solutions, Inc. or $35,000,000 with Penson Financial Services, Inc. Specifically, the Securities Investor Protection Corporation (SIPC) provides up to $500,000 to protect the assets in each account you hold in a separate capacity (for instance, custodian, joint or sole owner). $100,000 of this amount covers between-investment cash balances. In addition, excess insurance will provide the remaining "Excess SIPC" coverage on the securities and cash balance in your account, up to the stated limits - including money market funds. |
| Q: | What kinds of assets are covered? |
| A: | Your cash, stocks, bonds, mutual funds, notes, debentures, warrants, rights, options, money market funds and certificates of deposit are protected in the event of losses resulting from a brokerage firm's insolvency or liquidation. However, it is important to note that the account protection offered by the SIPC and excess insurance does not protect against losses due to market fluctuations. |
| Q: | What is the Securities Investor Protection Corporation? |
| A: | SIPC is a non-profit member organization of broker-dealers created in 1970 by an act of Congress. It protects customers of those broker-dealer members that for some reason can't meet their financial obligations to their customers. |
| Q: | Where does SIPC get the funds to protect me? |
| A: | SIPC can draw on approximately US$790 million of member contributions and interest earned from U.S. Government Securities. It also has a US$1 billion line of credit with a bank consortium. And if necessary, SIPC can also borrow up to US$1 billion from the U.S. Treasury. |
| Q: | Is my cash and money market investment covered by the protection? |
| A: | Yes all your cash and money market funds are protected. |
| Q: | What if I have more than $500,000 worth of securities and cash at risk? |
| A: | After recovered securities and cash are returned, if your remaining claim exceeds the $500,000 provided by SIPC, then we will use the additional protection offered through Ridge Clearing & Outsourcing Solutions, Inc. or Penson Financial Services, Inc. to cover your securities. |
Print account protection introduction. |
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