Where is my money held?

The standard way that investment accounts are handled when you work with a financial advisor (like OpenInvest or most others) is as follows:

There is a Registered Investment Advisor (that’s us) and a¬†Custodian (who holds your money and clears trades)

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. But we never actually touch your money. We simply advise you. And when you tell us your preferences or add or remove money, we use our system to implement trades for your account.

Apex Clearing, 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 money would just be sitting there in an account at Apex for you to access or to move to another RIA or custodian.

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