Pershing LLC acts on behalf of many financial organizations as clearing agent and custodian for various types of investment accounts. Pershing delivers a Disclosure Statement at account opening to new accounts of record.
The Disclosure Statement details the relationship and allocation of responsibilities between the introducing financial organization and Pershing as clearing agent and custodian. This document also discloses other important information. We encourage you to carefully review the Disclosure Statement and contact your financial organization if you have any questions.
Download Pershing LLC's Disclosure Statement
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Pershing may receive servicing fees from certain insurance companies that participate in Pershing's annuity program. Participation by your financial organization in this program is optional. These fees may be considered revenue sharing and are a source of revenue for Pershing.
Pershing also receives operational reimbursement fees from certain insurance companies. A flat fee per holding is paid to Pershing for the services it provides, which may include, but is not limited to posting, accounting reconciliation, and client statement preparation and mailing. These fees are a source of revenue for Pershing. For a listing of insurance companies that pay Pershing revenue sharing and processing fees, please refer to www.pershing.com/annuity_fees.htm.
Pershing may receive payments from the distribution agent for trades in municipal auction rate securities and closed end fund/preferred auction rate securities executed by Pershing upon your financial organization's instruction. These payments are not charged to or paid by you. Additional information regarding such payments is available at www.pershing.com/ARS_fees.html.
When Pershing acts upon the instruction of your financial organization to execute the purchase of a UIT, Pershing may receive a payment based on the volume of sales processed by Pershing. Your financial organization may receive a concession for the sale of the UIT to you. Such payments are disclosed in the applicable trust prospectus. Additional information regarding such payment and a list of sponsors are available at www.pershing.com/UIT_fees.html.