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Fidelity Investments is the clearing broker and custodian for our client's assets. As of June 2003, Fidelity held $73 billion in assets for clients who invest through financial advisors, $880 billion in total for 19 million clients worldwide. Fidelity provides execution services in domestic and international services including stocks, bonds, options and mutual funds (most without transaction fees or sales charges.) Fidelity provides monthly statements and confirms of all activity in client's accounts, as well as year end summary and tax forms. Clients can review their accounts 24/7 through Fidelity's web-site. Each account receives a total of $100 million in coverage (SIPC and supplemental) against the unlikely event that Fidelity could not meet its financial obligations.
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