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My RIA changed my Custodian - advice?
Old 06-13-2011, 06:34 AM   #1
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My RIA changed my Custodian - advice?

I have been with my Registered Investment Advisor since 2008. She had been using TD Ameritrade and now switched to SSG (Shareholders Service Group)

I know nothing about this company and all I could find on-line is that they are a smaller custodian in San Diego CA.

Anyone see a problem with this? The only thing that caught my eye in their contract was that they have a Arbitration Clause.

Also, my advisor's quarterly statements to me used to show her fees and now that is not shown. I am going to discuss that important fact with her but wanted to know if anyone had comments on SSG so I could discuss everything at the same time.

Thank you
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Old 06-13-2011, 10:18 AM   #2
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You can check them out at finra.org but be sure to use their full name for the search.
They actually use Pershing for custody.
One fine for $12,500 for not documenting trades properly.
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Thank you
Old 06-13-2011, 07:55 PM   #3
Confused about dryer sheets
 
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Thank you

It is just really scary having all your retirment monies with a company you have never heard of ...
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Old 06-13-2011, 10:42 PM   #4
Recycles dryer sheets
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Quote:
Originally Posted by old school View Post
I have been with my Registered Investment Advisor since 2008. She had been using TD Ameritrade and now switched to SSG (Shareholders Service Group)
Did the money move without your knowledge or consent? What if you said you didn't want to move?
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Old 06-14-2011, 07:08 PM   #5
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It does not seem like you were given proper notification of the change. I have two different IAs for my children's investments. I am always notified of any changes either procedural, staff or otherwise well in advance.
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Old 06-17-2011, 01:33 PM   #6
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The arbitration clause is usually an industry standard.
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don't worry
Old 07-12-2011, 11:24 PM   #7
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don't worry

I'm very knowledgeable in the RIA industry and SSG is perfectly safe. They offer the same investor protection as Schwab, TDA, Fidelity, etc.

Josh
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Old 07-13-2011, 08:35 AM   #8
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Why are you using a RIA is a better question.
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