Securities offered through PWA Securities, Inc., member FINRA/SIPC, an affiliate of PWA Wealth Management. Securities held in custody by Pershing for our clients are protected up to the total amount held in their accounts. Of this total, the Securities Investor Protection Corporation (SIPC) provides $500,000 of coverage, no more than $100,000 of which may be in cash. The remaining coverage, on securities only, is provided by Pershing through a commercial insurer. This protection applies in the event Pershing fails financially. It does not protect against losses resulting from the rise and fall of the stock market.