Who oversees broker/dealers?
With few exceptions, broker-dealers must register with the Securities and Exchange Commission (SEC) and be members of FINRA. Individual registered representatives must register with FINRA, pass a qualifying examination, and be licensed by state regulators before they can do business with you.
Are my assets protected?
First Southern Securities is a member of the Securities Investor Protection Corporation® (SIPC®). SIPC protects against the loss of cash and securities in your account up to $500,000, which includes $250,000 for cash. For more information visit the SIPC website.
In addition to SIPC protection, Pershing provides coverage in excess of SIPC limits from certain underwriters in Lloyd’s insurance market and other commercial insurers. The excess of SIPC coverage is valid through February 10, 2021 for Pershing LLC accounts. It provides the following protection for Pershing LLC’s global client assets:
- An aggregate loss limit of $1 billion for eligible securities over all client accounts
- A per-client loss limit of $1.9 million for cash awaiting reinvestment-within the aggregate loss limit of $1 billion
SIPC and the excess of SIPC coverage do not protect against loss due to market fluctuation. An excess of SIPC claim would only arise if Pershing failed financially and client assets for covered accounts-as defined by SIPC-cannot be located due to theft, misplacement, destruction, burglary, robbery, embezzlement, abstraction, failure to obtain or maintain possession or control of client securities, or to maintain the special reserve bank account required by applicable rules.
Pershing’s Strength and Stability
Understanding the Protection of Client Assets
Where can I can learn more about municipal bonds?
How do I open an account with First Southern?
To open a account with First Southern, contact us directly:
Atlanta, Georgia Office
1720 Windward Concourse, Suite 115, Alpharetta, GA 30005
San Juan, Puerto Rico Office
Metro Office Park, Lot 8 street 1 Suite 401, Guaynabo, PR 00968
When will I receive my statement?
Accounts with reportable account activity are considered active. Active account statements are issued monthly. Inactive account statements are generated on a quarterly basis.
Can I receive statements/confirmations electronically?
Yes. Contact your account representative.
Can I view my account online?
Yes. Contact your account representative to authorize you for on-line account access.
Who do I make my check payable to?
Check are made payable to Pershing LLC with your account number on the memo line.
How can I set up ACH transfer?
Please contact your account representative regarding an ACH Transfer Authorization form.
How can I check my account balance?
For balance information contact your account representative or sign up for online account access.