Custody of your Assets
One of the benefits of working with a Registered Investment Advisor is that your assets are held by an independent third-party custodian, such as brokerage firm or bank. This means that while your investments are being managed by Steele Capital Management, your assets are being held and safeguarded by a independent custodian.
The SEC’s Customer Protection Rule requires client assets (stocks, bonds, and mutual funds) to be held separate from a brokerage firm’s own assets. In the unlikely event that a brokerage firm should fail while holding assets registered in the client’s name, the assets are distributed back to the client.
You receive a monthly statement directly from your custodian detailing your investments and every transaction in your account.