We also wanted clients to feel confident as to where their assets were held, which we achieve through being a branch of Raymond James Investment Services.
We wanted clients to enjoy the bespoke and personalised attention of a bespoke owner-managed practice, while benefitting from the confidence that comes from our branch being part of a leading private client wealth management, Raymond James Investment Services.
Client Account Protection
Raymond James administers your accounts and we have an arrangement with BNY Pershing to act as custodian for your investments. Pershing is part of the Bank of New York Mellon Corporation, one of the world's strongest financial institutions, with many trillions in client assets under custody and/or administration.
In compliance with the Financial Conduct Authority's Client Asset Rules, your investments are held on trust in accounts segregated from Pershing's own assets. In other words, they are ring-fenced from Pershing's own corporate assets. Therefore, in the unlikely event of default by Pershing, your assets would be allocated to you as the beneficial owner.
In addition, the FCA's Client Asset Rules require Pershing to perform regular checks to verify that client assets held in trust are accurately recorded. In the unlikely event that Pershing had failed to properly apply the FCA's Client Asset Rules and had also defaulted on its obligations, eligible clients would be able to make a claim to the Financial Service Compensation Scheme (FSCS) for any assets lost by Pershing. The FSCS provides cover up to £85,000 per eligible claimant for investments.
BNY Pershing also has additional insurance policies in force to protect against financial loss caused by events such as forgery, fraudulent alteration and computer crime. Note:- Client account protection does not cover investment risk.