Trusted Partners

 

Why RBC & RBC Correspondent Services?

Oak Ridge engages RBC Correspondent Services as our clearing firm because they have the experience and resources. Operating since 1869, the parent company RBC is one of the world's leading diversified financial services companies and is one of the strongest, most secure, and best performing global banks. RBC holds strong market positions in personal trust services & commercial banking, wealth management, insurance, investor & treasury services and capital markets. The experience and credentials that RBC possesses are hard to beat. They are the 5th largest bank in North America by market capitalization, the 7th largest Wealth Management Firm in the US by assets under management, the 11th largest Investment Bank in the US with 36 offices in 23 states, and the 3rd largest clearing firm. RBC Correspondent Services has 190+ broker-dealers, $90 billion customer assets, 20,000 platform users, 750,000 clients, and over 4.2 million trades processed.

They are real. RBC strives to be considered one of the most trusted and successful clearing and custody institutions in the US. RBC helps independent broker dealers, registered investment advisors and their clients thrive and prosper, and they help make a significant difference in our everyday business activities. They work to simplify growing our business with business opportunities, running our business with technology solutions and operational efficiencies, educational conferences, and protecting our business with regulatory updates.

We have conversations. RBC is located in Minnesota, close to our main office and is readily available the moment we are in need of guidance. Conversations are important. In helping our clients, we are able to locally connect with them and as we work with our clients.


About RBC

Our clearing firm, RBC Correspondent Services, is a division of RBC Capital Markets, LLC. RBC Capital Markets, LLC, is a member of the Securities Investor Protection Corporation (SIPC). SIPC is a nonprofit membership corporation funded by its member security broker-dealers. SIPC protects the securities owned by clients of its members in the event of the failure of a member firm. SIPC reimburses clients the cash value of their securities up to $500,000 per client. Any cash in a client's account would be reimbursed by SIPC up to $250,000 (reducing the $500,000 above).

RBC Capital Markets, LLC, has purchased an additional policy that offers coverage in excess of the protection provided by SIPC. This coverage covers additional securities and cash protection up to $99.5 million per client, of which $900,000 may be in cash. A $400 million aggregate limit applies to this additional coverage.

RBC Capital Markets, LLC, also offers protection if a client's securities are missing because of theft by an outsider, computer fraud or theft by an employee for personal gain. In such cases, the firm's CAN$310 million Financial Institution Bond coverage would cover the client's losses, subject to that policy's terms, conditions and limits.

This SIPC insurance, as well as the additional SIPC coverage and the Financial Institution Bond, are available to Oak Ridge clients to provide the highest level of safety to their assets.

Note: Neither SIPC protection, nor protection in excess of that offered by SIPC, covers a decline in the value of a client's assets due to market loss. Additional information is available upon request or at www.sipc.org.