What Does SIPC Stand For? & Other Frequently Asked Questions
How Long Have You Been in Business?
How Do I Become a Client?
Is There Any Cost for an Initial meeting?
Can I View My Account Online?
How Do I Get to the Office?
What Does SIPC Mean?
What Is FINRA?
Who Is Calton & Associates?
Who Is National Financial Services, LLC?
How Are My Accounts Protected?
How Long Have You Been in Business?RMR Wealth Builders, Inc. was established in 1986, when a group of four top producing independent advisors decided to leave their current firm and open their own New Jersey wealth management practice.
How Do I Become a Client?Simply call our offices to set up an appointment with one of our advisors. After an initial meeting, you will have a good idea of how we can help you. If you are not sure whom to meet with, please call our home office at 201.836.2460 and we can guide you to an advisor who will fit NJ wealth management needs.
Is There Any Cost for an Initial meeting?No, there is no fee for an initial meeting. It will be a chance for you to meet an advisor, ask questions about welath management in New Jersey, and share information about your financial goals and expectations. At that point, you will decide how to proceed further.
Can I View My Account Online?Yes, you may view your account online from the “My Streetscape” Client link on the menu bar.
How Do I Get to the Office?Please see our map, available through the Contact Us link. RMR occupies the same Teaneck, New Jersey office where it began operations back in 1986, in the beautiful Glenpointe Centre complex, one of the most prestigious and sought after commercial properties in northern New Jersey. The complex is anchored by the Glenpointe Marriott Hotel and is located at the crossroads of Interstate Route 80 and the New Jersey Turnpike, approximately two miles from the George Washington Bridge.
What Does SIPC Mean?
So, what does SIPC stand for? The mission of the Securities Investor Protection Corporation is to restore funds to investors with assets in accounts at bankrupt or financially troubled brokerage firms. When a brokerage firm is closed due to bankruptcy or other financial difficulties, and customer assets are missing, SIPC steps in quickly and works to return customers’ cash, stock and other securities. Without SIPC, investors at financially troubled brokerage firms might lose their investments forever or wait years while their assets are tied up in court. Established by Congress in 1970, SIPC estimates that 99% of persons who are eligible have been made whole in the failed brokerage firm cases that it has handled. Our broker-dealer firm, Calton & Associates, Inc, is a member of SIPC. www.SIPC.org
What Is FINRA?The Financial Industry Regulatory Authority is a regulatory organization for all securities firms doing business in the United States, which includes over 4,000 brokerage firms and approximately 650,000 registered securities representatives. Created in July 2007 through the consolidation of National Association of Securities Dealers (NASD) and the regulatory functions of the New York Stock Exchange, FINRA is dedicated to investor protection and market integrity through effective regulation and compliance services. www.FINRA.org
FINRA’s scope encompasses nearly every aspect of the securities business: Registering and educating industry participants; examining securities firms; writing rules; enforcing those rules and federal securities laws; informing and educating the investing public; providing trade reporting and other industry utilities; and administering the largest dispute resolution forum for investors and registered firms. It also performs market regulation under contract for the NASDAQ Stock Market, the American Stock Exchange, the International Securities Exchange, and the Chicago Climate Exchange.
Who Is Calton & Associates?Calton & Associates. Inc. is a full service securities broker/dealer firm and SEC Registered Investment Advisor based in Tampa, Florida. Founded in 1987, the privately held, employee owned corporation is registered in all fifty states, Puerto Rico and Virgin Islands. Calton has nearly 90 branch offices throughout the United States.
Who Is National Financial Services, LLC?Calton & Associates, Inc. your broker/dealer has a relationship with National Financial Services LLC (NFS). NFS may provide trade execution, clearing, and other related services for your brokerage account. In this role, NFS distributes required and supplemental information to you regarding your account.
How Are My Accounts Protected?Asset Protection
Securities in accounts carried by National Financial Services LLC (“NFS”), a Fidelity Investments company, are protected in accordance with the Securities Investor Protection Corporation (“SIPC”) up to $500,000. The $500,000 total amount of SIPC protection is inclusive of up to $250,000 protection for claims for cash, subject to periodic adjustments for inflation in accordance with terms of the SIPC statute and approval by SIPC’s Board of Directors. NFS also has arranged for coverage above these limits. Neither coverage protects against a decline in the market value of securities, nor does either coverage extend to certain securities that are considered ineligible for coverage. For more details on SIPC, or to request an SIPC brochure, visit www.sipc.org or call 202.371.8300.
“Excess of SIPC” Coverage
In addition to SIPC protection, NFS provides for brokerage accounts additional “excess of SIPC” coverage from Lloyd’s of London together with other insurers. The “excess of SIPC” coverage would only be used when SIPC coverage is exhausted. Like SIPC protection, “excess of SIPC” protection does not cover investment losses in customer accounts due to market fluctuation. It also does not cover other claims for losses incurred while broker-dealers remain in business. Total aggregate “excess of SIPC” coverage available through NFS’s “excess of SIPC” policy is $1 billion. Within NFS’s “excess of SIPC” coverage, there is no per account dollar limit on coverage of securities, but there is a per account limit of $1.9 million on coverage of cash. This is the maximum “excess of SIPC” protection currently available in the brokerage industry. Lloyd’s of London currently has an A (Excellent) rating with “Stable Outlook” from ratings firm A.M. Best and an A+ (Strong) rating with “Stable Outlook" from Fitch Ratings and “Positive Outlook” from Standard & Poor’s.