Privacy and Security
At Robinswood Financial, you are our most important asset. We work hard to build your trust and will do everything we can to maintain it. We also understand that you have entrusted us with your private financial information. The following describes our approach to client privacy and our commitment to you to keep your records private and secure.
Is my money safe?
Yes. Robinswood Financial is not a broker/dealer and is not the custodian on your account. Robinswood does not hold any cash or securities for any of our clients. Instead, all assets and cash are held by Charles Schwab
, an outside broker/dealer, or at our affiliated trust company Schwab Trust Company with insurance coverage provided by them. The cash transactions are between you and the custodian.
Is my account with Charles Schwab guaranteed?
Regarding losses due to unauthorized activity, yes, your account is guaranteed. We want you to have the highest level of confidence, which is one reason we have chosen Charles Schwab
as your custodian. Schwab covers 100 percent of any losses in any of your Schwab accounts due to unauthorized activity.
Regarding the portfolio value, no. The value of your investments will fluctuate, and there is no way to guarantee against investment losses.
Are accounts with Charles Schwab insured?
Yes. Charles Schwab
is insured by Securities Investor Protection Corporation (SIPC), which provides a safety net for investors in case a custodian goes out of business. To the extent that SIPC cannot recover securities owed to a client, funds from the SIPC reserve are available to satisfy the remaining claims up to a maximum of $500,000 per "client capacity" (for example, sole owner, custodian, or joint tenant). This figure includes a maximum of $100,000 on claims for cash. Additional recovered funds are used to pay investors whose claims exceed SIPC's protection limit of $500,000.
Additional account protection is provided through underwriters at Lloyd’s of London. Under the policy secured with underwriters at Lloyd’s, the additional protection of securities and cash is provided up to an aggregate of $600 million, limited to a combined return to any customer from a trustee, SIPC, and Lloyd’s of $150 million, including cash of up to $900,000 by the Lloyd’s policy.
Are your records protected?
All records at Robinswood Financial are regularly backed up and stored for a minimum of five years at a separate secure facility.
Our custodian, Charles Schwab
, maintains redundant backups of all records in multiple states.