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In a post-Madoff world, it is not only important to work with trusted parties but also clearly identified lines of custody.  GPS does not retain custody or have direct access to customer funds.  Rather, GPS has chosen two parties to work with:  Shareholder Services Group, Inc. (SSG) and Pershing, LLC.  SSG works exclusively with Registered Investment Advisors like GPS as a broker-dealer firm.  SSG clears through Pershing, LLC for custody of client assets.  Pershing, a subsidiary of The Bank of New York Mellon, is the world’s largest custodian with over $27 trillion in assets under custody.  


As a member of SIPC (Securities Investor Protection Corporation), SSG/Pershing provides account protection up to $500,000, including $250,000 for claims of cash. Additional insurance is included through Lloyd’s of London. This provides excess account protection up to an aggregate limit of $1 billion, of which $1.9 million may cover cash awaiting reinvestment at the individual account level. This amount in excess account protection is the highest level of brokerage account insurance coverage available in the industry today.


Note:  SIPC insurance does not protect against market loss or fluctuation of client assets.

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