McDermott Investment Advisors, LLC (MIA) is an SEC-registered Investment Adviser with headquarters located at 5237 Summerlin Commons Blvd., Suite 223, Fort Myers, FL 33907. Operations Mailing Address: P.O. Box 1889, Bethlehem, PA 18018.
McDermott Investment Services, LLC (MIS) is a registered broker-dealer and member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), and the Municipal Securities Rulemaking Board (MSRB), with headquarters located at 44 East Broad Street, Bethlehem, Pennsylvania 18018. Operations Mailing Address: P.O. Box 1889, Bethlehem, PA 18018
Securities custody, clearing, and execution services provided by Hilltop Securities Inc., a FINRA-registered clearing broker-dealer.
What/Who is Hilltop Securities Inc. ?
Hilltop Securities Inc. (HTS), a member of the New York Stock Exchange, FINRA, and SIPC, is a full-service brokerage firm providing customers with execution services on all major exchanges. HTS has access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These functions are provided primarily in Dallas, Texas with various financial professional, trading, stock-loan, and investment banking offices in other locations in the United States.
HTS uses various mission critical systems to provide these services to customers. These systems are housed at one of HTS’s data centers; one of HTS’s offices; or at a third-party service provider, exchange, or utility.
MIS’s Relationship with HTS
MIS has a contractual agreement with Hilltop Securities Inc. to serve as our clearing firm. This fully disclosed agreement states the responsibilities of each party. Prior to the agreement becoming effective, Hilltop Securities Inc. made all disclosures to our Firms designated examining authority as required by NYSE Rule 382. In addition, each client of our Firm receives a disclosure letter advising of our relationship with HTS. The disclosure letter details the responsibilities that our Firm (the introducing broker-dealer) and Hilltop Securities Inc. (the clearing firm) have to the client. Although client assets are held by Hilltop Securities Inc., Hilltop Securities Inc. does not have responsibility for the financial condition or performance of our Firm or our financial advisors.
SIPC & Additional Coverage for Client Accounts
HTS is a member of SIPC, which protects the securities customers of its members up to $500,000 (including $250,000 for claims for cash).
In addition, HTS maintains Excess SIPC Insurance through underwriting syndicates at Lloyd’s of London, which covers the net equity of customers’ accounts up to an aggregate of $200 million. This coverage is offered over and above the coverage provided by SIPC. SIPC and Excess SIPC covers accounts of the member firm in the event of a members bankruptcy or insolvency.
Please note, however, that neither SIPC protection, nor protection in excess of that offered by SIPC, covers a decline in the value of a clients assets due to market loss.
Additional information regarding SIPC protection is available at www.sipc.org, by calling (202) 371-8300, or upon request to our Firm.
HTS’s Annual Disclosure Statement, Statement of Financial Condition, Privacy Policy and/or Order Routing Report can be accessed here.
Hilltop Securities, Inc.’s main office is located at 717 North Harwood Street, Suite 3400, Dallas, TX 75201. Their telephone number is (214) 859-1800, and their website is www.hilltopsecurities.com.
