The Opus Group has taken precautions to check for the safety of our clients’ assets. Below is a summary of the protections in place to safeguard your assets.
- Our introducing broker dealer’s clearing relationship: When you open a brokerage account with The Opus Group your funds are held and safeguarded by Axos Clearing, a subsidiary of Axos Financial, ticker symbol AX on the NYSE.
- Axos Clearing’s compliance with SEC requirements (Segregation of Assets): Segregation simply means your assets are kept separate from firm assets, and thus are protected from potential losses of the firm. Axos Clearing complies with SEC rules governing the separation of client assets from firm assets. By segregating your non-margin securities from firm securities – and keeping careful records of margin securities held “in street name” in your margin account – your assets would be readily identifiable in the unlikely event we needed to liquidate our firm. In addition, Axos Clearing fully complies with SEC rules requiring all broker-dealer firms to maintain sufficient net capital to ensure that you will get your cash and securities back in the unlikely event that our firm should fail. This net capital of Axos Clearing would be available to satisfy any customer claims.
- Axos Clearing’s membership with the Securities Investor Protection Corporation (SIPC): Since Axos Clearing is a member of SIPC – a nonprofit corporation funded by member securities broker-dealers – you are eligible for SIPC insurance protection. In the rare event that Axos Clearing were to become insolvent and by some unlikely sequence of events there were securities missing from your account, SIPC reserve funds would be available to satisfy your claims against the firm, up to $500,000 per client, including up to $250,000 in cash.*
* Neither SIPC protection, nor protection in excess of those offered by SIPC, covers a decline in the value of a client’s assets to market loss. Additional information is available upon request or at www.sipc.org.