Kovack Securities is a member of the Financial Industry Regulatory Authority (FINRA), Securities Investors Protection Corporation (SIPC), Florida Securities Dealers Association (FSDA), and the Securities Industry Association (SIA).
Fidelity & Pershing Accounts
Under SIPC, your securities account is insured up to $500,000 ($100,000 for cash). Fidelity & 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 Fidelity 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.
Sample Client Statements
Client statements are sent monthly to clients in a consolidated, easy to read format. They detail all securities positions including equities, fixed income securities and mutual funds.
Copyright ©, Kovack Financial Companies.
Member FINRA / SIPC
6451 North Federal Highway, Suite 1201
Fort Lauderdale, Florida 33308
Ph: (954) 782-4771 Fax: (954) 943-7331