Custodian of Assets


We currently recommend the use of Scottrade, Inc. as the custodian of your account. Scottrade, Inc. does not currently charge our clients a custodial fee. Scottrade, Inc. does charge incidental fees, such as a wire transfer or to settle a trade placed with another broker. If you specify a particular custodian, we are not responsible for negotiating the custody fees your custodian charges you.

We anticipate that the broker on a trade will send you a confirmation for each security transaction and the custodian will send you a statement at least quarterly. The statement will show all cash, cash-equivalent, and security transactions in your account as well as account balances and market value of your account. In accordance with regulation, we advise you to compare portfolio appraisals of your account from us to your custodian’s statement.

Under no circumstances do we have custody of client funds. All client assets are in custody at broker/dealers. This protects both our clients and us by not having access to clients’ assets. Client may agree via written agreement to have Merrell Brothers, LLC deduct advisory fees directly from client accounts.

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