Frequently Asked Questions

How often will I receive statements and can I access statements online?

Statements can be accessed and retrieved online at any time.

How is Charles Schwab involved in your business?

Charles Schwab holds custody of our clients’ assets, which means they hold securities and cash and facilitate trading activities. Purus Wealth Management has selected Charles Schwab because they offer what we believe is important to our clients.

How are my funds protected?

In addition to traditional SIPC account protection of $500,000 for each separate account with a limit of $100,000 for cash balances, Schwab offers account protection through underwriters at Lloyd’s of London. An explanatory brochure is available upon request or at www.sipc.org. The additional protection of securities and cash is provided up to an aggregate of $600 million.*

Can I borrow against my investments?

Yes. For more information about this, contact your advisor.

Do I have access to banking services?

Yes. We offer access to Schwab Bank offering exclusive banking products, including debit cards where all ATM fees are reimbursed at any ATM worldwide.

How well do you protect my privacy?

We have teamed up with Charles Schwab & Co., Inc. and are committed to safeguarding the privacy and security of our clients. Detailed information about Schwab’s policies designed to maintain privacy and security is posted for you on www.schwaballiance.com.

Federal regulations require Schwab to mail to you an annual privacy notice about how to limit the information that is shared with affiliates and outside companies. This notice supports the Schwab Institutional privacy policy in place for all clients of advisors:

  • Schwab Institutional recognizes the unique services that independent financial advisors deliver to their clients, and as such, has a contact policy to be followed to support the relationship advisors have with clients.
  • Schwab Institutional restricts the sharing of client personal information with outside companies except when certain limited regulatory or operational circumstances apply.
  • Schwab never sells client personal information.

Schwab Institutional will continue to mail regulatory and operational information to clients of advisors as necessary.