Below are a few financial questions we have answered to enhance the transparency of our services. If your question is not answered below, please contact us.
Independent financial professionals are not employees of an investment or financial services firm – they are independent business owners. They have the freedom to provide objective advice and structure their business in a manner that best serves the client’s financial goals. An independent financial professional utilizes a broker-dealer who provides services that include processing investment business, marketing assistance, practice management and education.
Founded in 1982 by financial advisors, Prospera is a full-service independent broker-dealer headquartered in Dallas, Texas. Prospera oversees our investment recommendations as a third party. They also support us as we conduct business for our clients.
Securities regulations are designed to protect clients’ funds and fully paid for securities when they are in custody at a registered broker-dealer. The Securities Exchange Commission (SEC) is an agency of the U.S. government that oversees the Financial Industry Regulatory Authority (FINRA), which in turn oversees broker-dealers, clearing firms and the financial advisor.
All of our clients’ money is held with a third-party custodian. That custodian is First Clearing. First Clearing holds client assets for firms such as Morgan Stanley and Wells Fargo, among others. First Clearing insures the assets held against fraud.
Headquartered in St. Louis, Missouri, First Clearing is one of the largest third-party custodians, or holding companies in the financial services industry. They hold assets for several major firms. First Clearing is a member of the New York Stock Exchange, NASDAQ and other major exchanges and is a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.
The licensed individuals within Katz are subject to compliance, reporting and regulations set by the Securities and Exchange Commission (SEC) and the Financial Institutions Regulatory Association (FINRA). Our team members are also responsible to stay in continued dialogue with the compliance division of Prospera over investment recommendations. Serving as a fiduciary to our clients’ needs is at the forefront of everything we do.