Our custodial relationship with Fidelity provides a transparent and compliant investment experience for our clients.
Midland Wealth Management offers a suite of financial services, including investment and securities advice, financial planning, and portfolio management. As a Registered Investment Advisor (RIA), we are required to arrange for a custodian to maintain our clients’ assets and holdings.* For their expertise in asset custody, we selected National Financial Services (NFS), a Fidelity Investments broker-dealer.
Fidelity Investments (Fidelity) is one of the world’s largest providers of financial services. For over 75 years, Fidelity has built a reputation of integrity and financial management experience.
Our custodial relationship with Fidelity provides a transparent and compliant investment experience for our clients – it not only safekeeps their assets, but adds credibility and accountability which is essential for maintaining trust and adhering to regulatory standards in the industry.
Working with Fidelity gives Midland Wealth Management access to a wide range of products and services that can help us serve the needs of our clients and to deliver them in efficient and convenient ways.
We must meet certain reporting requirements when working with a custodian and therefore, our clients receive communications and documents directly from Fidelity.
For more information, please contact your Midland Wealth Management Advisor or complete this form.
In addition to SIPC protection, Fidelity provides its brokerage customers with additional "excess of SIPC" coverage. The excess coverage would only be used when SIPC coverage is exhausted. Like SIPC, excess protection does not cover investment losses in customer accounts, including losses due to market fluctuation. For example, fraud claims would not be covered if the brokerage firm was still in operation. Total aggregate excess of SIPC coverage available through Fidelity's excess of SIPC policy is $1 billion. Within Fidelity's excess of SIPC coverage, there is no per customer dollar limit on coverage of securities, but there is a per customer limit of $1.9 million on coverage of cash awaiting investment. This is the maximum excess of SIPC protection currently available in the brokerage industry.
Both SIPC and excess of SIPC coverage are limited to securities held in brokerage positions, including mutual funds if held in your brokerage account and securities held in book entry form.
*Important Note: The custodial relationship with Fidelity does not apply to all Midland Wealth Management accounts.
Fidelity Investments is an independent company, unaffiliated with Midland Wealth Management. Fidelity Investments is a service provider to Midland Wealth Management. There is no form of legal partnership, agency affiliation, or similar relationship between your financial advisor and Fidelity Investments, nor is such a relationship created or implied by the information herein. Fidelity Investments has not been involved with the preparation of the content supplied by Midland Wealth Management and does not guarantee, or assume any responsibility for, its content. Fidelity Investments is a registered trademark of FMR LLC. Fidelity Investments provides clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC. [eReview number 1125412.1.0]
Our team of dedicated professionals are here to support you.
