Broker Check

Is My Money Safe?

Neither Portside Wealth Group, LLC, Doleman Wealth Management, LLC, or affiliated associates ever custody (hold or have access to) your invested funds or securities.  If funding an account via check, the check is payable to and sent to the custodian within 24 hours of the date of receipt who then holds your funds and securities. Often, accounts are funded via direct transfer or rollover.

All securities investments carry some degree of risk and should be considered carefully before investing.  If a security is sold by Prospectus, you should read the Prospectus carefully and ask questions of your Advisor, before investing.

You should always consult your financial institution for more information.

The FDIC – short for the Federal Deposit Insurance Corporation – is an independent agency of the United States government.  The FDIC protects depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails.  Any person or entity can have FDIC insurance coverage in an insured bank.  A person does not have to be a U.S. citizen or resident to have his or her deposits insured by the FDIC.  FDIC insurance is backed by the full faith and credit of the United States government.  Since the FDIC began operations in 1934, no depositor has ever lost a penny of FDIC-insured deposits.

You should always consult your brokerage institution for more information.

THE ROLE OF SIPC - short for Securities Investor Protection Corporation - SIPC is the first line of defense in the event a brokerage firm fails owing customers cash and securities that are missing from customer accounts.  Although not every investor is protected by SIPC, no fewer than 99 percent of persons who are eligible get their investments back from SIPC.  From its creation by Congress in 1970 through December 2012, SIPC advanced $2.1 billion to make possible the recovery of $120.7 billion in assets for an estimated 770,000 investors.  When a brokerage is closed due to bankruptcy or other financial difficulties and customer assets are missing, SIPC steps in as quickly as possible and, within certain limits, works to return customers’ cash, stock and other securities, and other customer property.  Without SIPC, investors at financially troubled brokerage firms might lose their securities or money forever…or wait for years while their assets are tied up in court.

Because not everyone, and not every loss, is protected by SIPC, you are urged to learn about the limits of protection.

Investors should carefully consider all restrictions, limitations, and eligible securities or accounts.

US Government Bonds - US Government Bonds: Debt obligations that are issued by the US government to fund its operations and finance the federal deficit.  They are backed by the full faith and credit of the United States.  They are exempt from state and local taxation.  However, these securities do not protect against risk caused by the market or new legislation.

The National Organization of Life and Health Insurance Guaranty Associations (NOLHGA) is a voluntary association composed of the life and health insurance guaranty associations of all 50 states, the District of Columbia, and Puerto Rico.
When an insolvency involves multiple states, NOLHGA assists its state guaranty association members in quickly and cost-effectively fulfilling their statutory obligations to policyholders.

Investors should carefully read each insurance contract or prospectus before investing in any securities related account.

Please contact Doleman Wealth Management, LLC, for more details.

*please see below for important disclosure