We work with large, independent custodians – Fidelity, Charles Schwab and TD Ameritrade Institutional – where our clients hold accounts in their own name. Clients receive monthly statements directly from these independent custodians. Clients provide Parkside a limited power of attorney to direct the investments in the accounts according to an agreed-upon Investment Policy.
Parkside cannot withdraw funds from your accounts, and may only deduct account management fees according to our written agreement. We are highly focused on guarding clients’ accounts and data; continually reviewing and testing our security protocols. We remind clients to protect against phone and email fraud and provide recommendations for securing their personal data. We verify large outgoing money requests by calling and speaking with each client beforehand, and notify clients of checks and other electronic transfers out of their accounts, if we haven’t been previously notified by the client.
We are always happy to review with clients our built-in system of checks and balances.