The rules and regulations in the financial services industry are undoubtedly vast and complex. They require financial companies such as ours to provide clients with a multitude of disclosures and information. We want to be transparent and would like you to understand what this information means. Please don’t hesitate to contact me at firstname.lastname@example.org if you would like me to walk you through this information and answer any questions you may have.
– Jennifer Szaro, CFCP™ , Chief Compliance Officer
- Lara, May & Associates, LLC (“LMA”) is a fully disclosed, introducing broker/dealer member of the Financial Industry Regulatory Authority, Inc (“FINRA”) and a registered investment advisor with the U.S. Securities and Exchange Commission (“SEC”)1. To review of copy of the FINRA Manual, click here. LMA is also registered with the Municipal Securities Rulemaking Board (“MSRB”). The website address for the MSRB is www.msrb.org which includes access to the MSRB Rule Book and an investor brochure that describes the protections that may be provided by the MSRB rules and how to file a complaint with an appropriate regulatory authority. Access to www.msrb.org is available at the Falls Church, Va. and Frisco, Colo. branch locations.
- LMA’s primary custodian and clearing firm is First Clearing, a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.
- LMA and individuals acting in the capacity as either a broker agent, investment advisor representative or insurance agent only transact business with a state resident after licensure or satisfying the qualification requirements of that state, or if they are excluded or exempted from the state’s requirements, as the case may be. For information concerning the license status or disciplinary history of a broker-dealer firm or individual broker agent go to FINRA BrokerCheck .
- LMA is a member of the Securities Investor Protection Corporation (“SIPC”). Securities in your account protected up to $500,000. To obtain information about SIPC call SIPC at (202)371-8300 or visit sipc.org.
- The SEC Rule 606 requires broker-dealers that route orders in certain equity and option securities to make available quarterly reports that present a general overview of their routing practices. As an introducing broker-dealer, LMA utilizes the trade execution services of its clearing firm, First Clearing1 whose order routing statistics are able to be viewed here. Routing reports for Charles Schwab are available here. Routing reports for Fidelity are available here.
- ERISA DISCLOSURE. Please ask your LMA representative for the Section 408(b)(2) disclosures as it pertains to your plan and discuss any questions you may have. You may also submit an inquiry to email@example.com.
- OPTIONS. If you are interested in using options please read through the Characteristics and Risks of Standardized Options and Supplements. This is written and published by The Options Clearing Corporation. This booklet explains the purposes and risks of options transactions and is provided to an investor prior to buying or selling options contracts. The CBOE also has investor education videos that help illustrate the various behaviors of options.
- Tax and Legal Advice – LMA and its representatives are not licensed tax or legal professionals. Materials provided are not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer under U.S. federal tax laws. Individuals should consult their personal tax or legal professional regarding tax filings, such that may be required for certain trusts, retirement and ERISA plans, and any tax- or legal-related investment decisions.
- For consumers considering changing brokerage firms/representatives FINRA has created educational material to prompt important questions, provided here.
- ACCOUNT STATEMENTS. Clients should receive at least quarterly statements directly from the custodian that holds and maintains your investment assets. LMA urges clients to carefully review such statements and compare such official custodial records to any report or information that LMA or an IAR directly provides or is viewed via a custodial feed in a third party software or online portal. Statements from different custodians may vary from one to another based on their accounting procedures, reporting dates, or valuation methodologies of certain securities.
NOTE: The disclosures on this website may be updated periodically as required. Please check this website often for any updates.
1The use of the terms “registered investment adviser” or “registered” by us does not imply by itself any level of skill or training.
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