Who keeps my accounts, and who has access to them?
PFS does not maintain possession of any client assets. In general, clients’ accounts are held by Raymond James, our qualified custodian. As the custodian, Raymond James is responsible for creating statements, executing transactions, etc. We do not have the authority to withdraw anything from your accounts without your approval.
PFS does however have access to view account data. This allows us to provide you with comprehensive reporting on all accounts in your portfolio. What rate of return did you earn across all accounts last year? What expenses did you pay – to anybody, in any account – last year?
You always have full access to your own accounts and can view them at any time.