As part of our commitment to providing quality service and state of the art technology tools, in 1998 we formed a strategic clearing relationship with First Clearing¹, one of the nations leading brokerage clearing institutions. In addition to providing custodial and trade execution support, First Clearing furnishes firms and financial advisors access to a world-class platform of products, technology, tools and research.
First Clearing provides quality securities-execution and brokerage-clearance services to retail securities firms throughout the United States. Headquartered in St. Louis, Missouri, First Clearing provides the benefit of a firm with a long heritage in the full-service brokerage.
First Clearing is now in its fourth decade of service providing clearing services. Our relationship with First Clearing brings the benefit of a firm with deep roots in the full-service brokerage business and the strength of being affiliated with one of the largest financial services companies in America.
¹First Clearing is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.
RBC Correspondent Services (RBC CS)
RBC CS is a division of RBC Capital Markets, LLC, member NYSE/FINRA/SIPC. RBC Capital Markets, LLC, is a member of the NYSE, AMEX, CHX, CBOE and PSE and has execution capabilities on all principal exchanges. RBC Capital Markets, LLC is owned by Royal Bank of Canada, which trades under the symbol RY on the New York Stock Exchange.
Cutter & Company has a contractual agreement with RBC Correspondent Services (RBC CS) to serve as one of our clearing firms. Each client of our firm is notified of the relationship via a disclosure letter. The disclosure letter details the responsibilities that our firm (the introducing broker-dealer) and RBC CS (the clearing firm) have to the client. Although client assets are held by RBC Capital Markets, LLC, neither RBC Capital Markets, LLC, nor RBC CS has responsibility for the financial condition or performance of our firm or our Financial Advisors.