Security of assets
Pershing Securities Limited – Key Facts
A custodian is a specialised financial institution that holds customersʼ securities for safekeeping in order to minimise the risk of their misappropriation, misuse, theft, and/or loss.
Security of Investments
Raymond James will never hold client assets on its balance sheet and has a relationship with a custodian, Pershing Securities Limited (“Pershing”). BNY Pershing is part of the Bank of New York Mellon Corporation, one of the worlds strongest financial institutions, with $52.1 trillion in client assets* under custody or administration.
In compliance with the Financial Conduct Authority’s Client Asset Rules, your investments are held on trust in accounts segregated from BNY Pershingʼs own assets. In other words, they are ring-fenced from BNY Pershingʼs own corporate assets. Therefore, in the unlikely event of default by BNY Pershing, your assets would be allocated to you as the beneficial owner.
Security of Cash
BNY Pershing holds your cash balances as Client Money, which means that money in your Cash Account is held by BNY Pershing acting as trustee. It is segregated from BNY Pershingʼs own corporate assets and held in designated trust accounts at one or more banks.
Should any of the banks that Pershing uses fail, investor protection provided by the FSCS applies. The limit is currently £85,000 per eligible claimant per FCA authorised financial institution.
Note: investor account protection does not cover investment risk.
* As at 30 September 2024
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Contact us
If you would like to start the conversation, please get in touch.
We would be delighted to meet you at our offices, which are based on the banks of the Thames (by appointment only).
Equally, we would be happy to:
- Have meetings at your home or place of work.
- Take advantage of the river and have a stroll along the Thames Walk.
- Use Zoom to have convenient virtual meetings.