How are my assets held?
OpenInvest is an SEC licensed investment advisor. We are the folks you primarily interact with and build a relationship with, and we are legally bound (not to mention morally) to serve your best interests. We listen to your values and your financial goal, then we build a portfolio that fits you. Once you've added funds to your account we'll invest them according to your portfolio and make updates when you change your profile or when rebalancing is required.
Apex Clearing is an SIPC-insured clearing house who actually “custodies” your assets. Apex is a large, highly established investment house who manages billions of dollars in assets, including those of a number of major hedge funds. OpenInvest can never add or withdraw money – only you can do that. So even if we were to go “poof” into thin air (not going to happen), your funds would still be there in an account at Apex for you to access.