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| NFS |
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| National Financial, a Fidelity Investments company, offers Integrated Brokerage Solutions® to nearly 336 clients ranging from retail broker/dealers to institutional investment firms. Collectively, National Financial's clients have more than 86,000 brokers. As of September 30, 2007, National Financial custodied over $713 billion in assets representing more than 5.5 million customer accounts. Integrated Brokerage Solutions incorporates innovative technology, products and programs, supported by dedicated client service professionals and trusted industry alliances. This holistic, solutions-oriented approach is designed to help client firms attain competitive advantage by driving growth, creating efficiency and managing risk. |
| Account Protection |
Kovack Securities is a member of the National Association of Securities Dealers (NASD), Securities Investors Protection Corporation (SIPC), Florida Securities Dealers Association (FSDA), and the Securities Industry Association (SIA).
NFS & Pershing Accounts - Under SIPC, your securities account is insured up to $500,000 ($100,000 for cash). NFS & Pershing have both purchased an additional policy that provides coverage in excess of SIPC protection. Clients receive excess coverage at various levels, depending on the type of asset, up to $150 million. Additional protection is offered through NFS at the $35 million limit & Pershing is currently unlimited. Financial Institutional Bond, which covers clients' securities losses, subject to the terms, conditions and limits of the bond. SIPC coverage is not the same as the insurance on bank accounts provided by the Federal Deposit Insurance Corporation (FDIC). It does not protect investors against a decline in the market value of securities. SIPC generally protects customers against the physical loss of securities if the broker/dealer holding the securities for the customer fails. |
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