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ABOUT FIRST CLEARING, LLC.
Fordham Financial Management, Inc.’s, commitment to providing the highest quality service to our clients, has been well served by a fully-disclosed clearing agreement with one of the nation’s leading brokerage clearing institutions – First Clearing, LLC, a wholly owned subsidiary of Wachovia. (click here to visit the First Clearing Website).
Fordham Financial Management, Inc.’s strategic business alliance with First Clearing, LLC affords us the benefits of a firm with a long heritage in the full-service brokerage business and the strength of Wachovia, one of the largest bank holding companies in America.
First Clearing, LLC provides high-quality brokerage clearance services to over 100 securities firms throughout the United States, including Wachovia and Prudential Securities, and is a member of the New York Stock Exchange, NASDAQ, and all other major exchanges. With a professional staff of more than 1,000 service-driven associates, First Clearing, LLC offers unparalleled products, services, technology and operations support. Our relationship with First Clearing, LLC provides us the opportunity to offer you, our client, both value-added traditional and unique innovative financial services.
First Clearing, LLC’s state-of-the-art tools open the doors to major financial markets around the world. Through secure and sophisticated networking between Fordham Financial and First Clearing, LLC, our brokers provide our clients with instant access to securities quotes, top news, and up-to-the-minute information on their investments. Its proprietary intranet, InfoMAX, puts constantly updated information, the latest news, and stock data right on your Account Executive’s desktop and provides online research and investment strategy reports from the nation’s most respected sources. Additionally, our clients enjoy internet access to their accounts 24 hours a day, 365 days a year.
First Clearing, LLC properly documents and clears all transactions, including collection and payment of dividends and interest, processing corporate reorganizations, trade confirmation, monthly or quarterly statements, custody of assets, and annual tax-reporting summaries.
First Clearing, LLC provides securities in your account with up to $500,000 in account protection (cash up to $100,000) through the Securities Investor Protection Corporation (“SIPC”). Additional protection is provided at no cost for the remaining net equity balance, if any, of the cash and securities in your accounts. This coverage does not protect against losses from any change in the market values of investments.
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