Lincoln Financial Securities (LFS) brokerage accounts offer features and services designed to meet a client's individual needs. LFS representatives will help a client determine which services are appropriate for them.
LFS offers brokerage account services through two clearing firms: Pershing, LLC® and National Financial Services, LLC®. Both are well-known across the financial services industry. LFS and other broker-dealers use clearing firms to act as custodians and hold customers' brokerage account assets, execute trades, provide customer confirmations and statements, and handle many tax-related reporting activities. Investment account statements from LFS clearly indicate which clearing firm serves each account.
National Financial Services, LLC® (NFS)
As part of our effort to provide clients with quality service, LFS has a relationship with National Financial Services, LLC, member New York Stock Exchange (NYSE) and member of the Securities Investors Protection Corporation (SIPC), a Fidelity® Investments company, to provide trade execution, custody and other related services for LFS brokerage accounts. As custodian of the brokerage account, NFS, at the direction of LFS, is responsible for:
- The execution, clearance and settlement of securities transactions.
- Preparing and sending periodic account statements and transaction confirmations.
- The custody (or safekeeping), receipt, and delivery of funds and securities.
Pershing, LLC® (Pershing)
Additionally, LFS has a relationship with the clearing firm Pershing, LLC, member New York Stock Exchange (NYSE) and member of the Securities Investors Protection Corporation (SIPC) to provide trade execution, custody and other related services for LFS brokerage accounts.
Pershing, established in 1939, is an affiliate of The Bank of New York Mellon. Today Pershing is one of the nation's largest clearing firms. LFS selected Pershing as clearing firm based on its vast industry experience, its financial stability and the range of programs and services it offers.