Clearing & Safekeeping

Execution capabilities

Bernardi Securities has access to all principal US and foreign capital markets through our clearing partner Pershing LLC, a BNY Mellon company. Bernardi’s fixed income desk trades certain domestic municipal, corporate, US Government, US Agency bonds and Certificates of Deposit.

Types of accounts offered

Through our clearing partner, Bernardi Securities offers a wide variety of types of personal, corporate, retirement, and institutional accounts. Below are the most frequently requested account types:

  • Individual
  • Joint (With Rights of Survivorship & Tenants in Common)
  • Trust
  • Gift to Minor (UTMA & UGMA)
  • Transfer on Death
  • IRA
  • Money Purchase Pension
  • Profit Sharing
  • Individual 401(k)
  • 529 College Savings
  • Donor Advised Funds

Account services

Through our clearing partner, we are able to offer a suite of sophisticated services to assist you with your personal finance and organization. These services include:

  • Debit Cards
  • Check writing capabilities
  • Electronic payments
  • Online bill payment
  • ACH Payments
  • Mutual fund automatic investment
  • Cost basis accounting on statements

Online account access

Clients can be enabled to access their accounts via the Internet on a 24/7 basis. Access includes the following information:

  • Account holdings
  • Account balances
  • Account activity
  • Access to past statements and trade confirmations in pdf format
  • Online delivery of statements and trade confirmations

Cash management services

Pershing LLC accounts can transfer available cash balances automatically into a suite of money market funds managed some of the leading money managers including:

  • AIM
  • Federated
  • JP Morgan
  • Dreyfus
  • Reserve Funds
  • Scudder
  • Wells Fargo

In addition, Bernardi’s expert fixed income trading desk has access to competitive Certificates of Deposit and other short-term cash products

Private client & lending services

Through our clearing partner, we can offer the following specialty services for clients requiring sophisticated transactions:

  • Cashless option exercise
  • Restricted stock sales and loans
  • Asset Management accounts
  • Non-purpose loans
  • Margin account lending

Account protection

Accounts at Pershing LLC are protected by the strength of Pershing’s parent, the Bank of New York Mellon, one of the strongest financial organizations in the world.  Additional protection is provided by the Securities Industry Protection Corp (SIPC), covering up to $500,000 per customer including $250,000 for claims for cash.  Pershing provides excess-SIPC coverage by Lloyd’s Insurance Market up to an overall aggregate level of $1 billion for assets in custody at Pershing, including $1.9 million in cash awaiting reinvestment. SIPC and excess-SIPC coverage does not protect against loss due to market fluctuation.