Kovack Securities uses the following clearing firms on a fully-disclosed basis to act as custodian of your securities and cash accounts in addition to executing and clearing trades through the exchange floors as well as ECN's. In essence, the clearing firms act as our intermediary when providing financial services for all types of private and institutional clients.

Pershing LLC (member FINRA, NYSE, SIPC) is a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organizations and independent registered investment advisors who collectively represent approximately five million active investors. Financial organizations, investment professionals and independent registered investment advisors depend on Pershing’s depth of experience and consultative approach to provide them with forward-thinking solutions that help them to grow their businesses. Located in 20 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange, and its international affiliates are members of the Deutsche Börse, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a BNY Mellon company. Additional information is available at www.pershing.com.

Fidelity offers a variety of products including RMA & BSA accounts which feature unlimited check-writing, a Platinum MasterCard and a credit reserve which will loan you up to 50% of the value of marginable securities in your account. In addition to a host of retirement plans, Fidelity also offers fee-based products allowing you to choose from more than 1,500 load and no-load mutual funds. No matter what products you choose, you'll receive a combined statement from NFS and a consolidated 1099 statement at the end of the year.

For more information on Fidelity, please visit their website Online at clearingcustody.fidelity.com.

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