We understand the trust you place in us to manage your life's savings and this is a burden we do not take lightly.
Whilst Raymond James, Buckingham manages your portfolio, Raymond James have an agreement with BNY Pershing Securities Limited to act as custodian for your investments.
BNY Pershing Securities Limited
BNY Pershing is part of the Bank of New York Mellon Corporation, one of the world’s strongest financial institutions, with $52.1 trillion in client assets* under custody and/or administration.
In compliance with the Financial Conduct Authority’s Client Asset Rules, your investments are held on trust in accounts segregated from BNY Pershing’s own assets. In other words, they are ring-fenced from BNY Pershing’s own corporate assets. Therefore, in the unlikely event of default by Pershing, your assets would be allocated to you as the beneficial owner.
In addition, the FCA’s Client Asset Rules require BNY Pershing to perform regular checks to verify that investor assets held in trust are accurately recorded.
Financial Service Compensation Scheme (FSCS)
In the unlikely event that BNY Pershing had failed to properly apply the FCA’s Client Asset Rules and had also defaulted on its obligations, eligible investors would be able to make a claim to the Financial Services Compensation Scheme (FSCS) for any assets lost by Pershing. The FSCS provides cover up to £85,000 per eligible claimant for investments.
BNY Pershing also has additional insurance policies in force to protect against financial loss caused by events such as forgery, fraudulent alteration and computer crime.
*As at 30 September 2024
Note: Investor Account Protection Does Not Cover Investment Risk
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