Who Holds My Assets? Account Safety and Security
We understand how important safety and security are when it comes to your account. We want to be as transparent as possible and provide you with all the information we can — we've included some helpful details below.
Who holds my assets?
Your Aries brokerage account is held with Ram Financial LLC ("Ram Financial"), a registered broker-dealer with FINRA (CRD #330235). Ram Financial operates as an introducing broker-dealer, with clearing and custody services provided by Apex Clearing Corporation ("Apex Clearing") under a fully disclosed clearing arrangement. Both Ram Financial and Apex Clearing are members of FINRA and SIPC.
What happens if Ram Financial or Apex Clearing becomes insolvent?
SIPC protects assets — both cash and securities — held in your brokerage account at Ram Financial. SIPC coverage becomes relevant in the unlikely event that Ram Financial or Apex Clearing becomes insolvent and you are unable to access the assets in your brokerage account(s). SIPC coverage protects assets up to a total of $500,000, of which $250,000 applies to cash. There are additional terms and limits on SIPC coverage that aren't discussed here. For full details, please refer to www.sipc.org.
It is worth noting that Apex Clearing has additional insurance coverage against its insolvency in excess of the regular SIPC limits. In the event of insolvency at Apex Clearing, claims that exceed the standard SIPC limits may be able to make a claim against Apex Clearing under its excess insurance policy. That excess policy has an aggregate limit of $150 million across all Apex Clearing accounts, subject to sub-limits per each individual customer of $37.5 million for securities and $900,000 for cash.
Important limitations to keep in mind
- Neither SIPC coverage nor Apex Clearing's additional insurance provides protection against loss in the market value of securities.
- SIPC coverage does not apply to crypto assets, if applicable.
Thank you for being a part of the Aries community. If you have any questions, please reach out to our team via chat or email at support@aries.com.