Protecting Your Investments

April 29, 2009 | Subscribe to our RSS Feed

Given this tenuous environment, we want to review with you, our Glass Jacobson Wealth Management clients, the controls in place that provide for the safety of your account, as follows:

• Glass Jacobson custodies all client securities in accounts maintained by our independent Custodians, Charles Schwab, National Financial Services and Fidelity. These client securities are completely segregated from the Custodians’ operating funds, and are not subject to the financial health of these entities.
• Glass Jacobson produces quarterly performance statements in addition to the monthly statements provided directly to you by our independent Custodians. Your ability to compare these independently sourced reports assures you that no improprieties in your accounts can occur.
• Glass Jacobson’s authority only allows for funds to be used to purchase investments or pay management fees. Distributions from your accounts can only be made to you at the address of record, unless specifically authorized in writing by you to the independent Custodian.
• Glass Jacobson’s authority does not include trading discretion, meaning that we are unable to trade without specific permission from our clients. After trades in your account(s) are made, you are provided a trade confirmation directly by the independent Custodian.
• Glass Jacobson uses transparent publicly traded mutual funds. These funds also utilize independent Custodians to hold their underlying securities. Both the mutual fund families and their independent Custodians undergo annual 3rd party audits performed by independent Certified Public Accounting firms.

To summarize, there is a very detailed system of checks and balances within our network of service providers. We want to assure you that your assets are protected from such events as have occurred with this scandal. Please call us if you have additional questions and want to discuss your concerns.