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Why some RIAs are jumping through hoops to custody assets with JPMorgan

After selling its RIA unit to RBC, its marquee name, sterling reputation and a new platform continues to draw advisors

Thursday, April 19, 2012 – 3:14 PM by Lisa Shidler
Admin:
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Richard Saperstein: We wanted to keep our assets at one of the safest institutions in America.

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Top Executive: Frank Rizza




Frederick Van Den Abbeel

Frederick Van Den Abbeel

April 19, 2012 — 3:47 PM

I understand the name vantage point however perhaps RIABiz can provide some research on Excess SIPC Coverage not being available at JP Morgan? Having excess SIPC coverage seems to be commonplace in the industry. There was a posting which states JP Morgan had decided to drop their Excess SIPC coverage?

I believe all RIAs should be aware of what amounts of SIPC and FDIC coverage their custody providers make available particularly in comparison to other custodians.

RIABiz, can you please research this public post? I find it hard to believe frankly JP Morgan has no Excess SIPC coverage.

http://www.cdnbusinessdirectory.com/financial-planning/45374-jp-morgan-clearing-formerly-bears-stearn-dropped-capco-excess-sipc-coverage

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