Haven has plans to be around well after your retirement years. In the case anything were to happen to cause Haven to close our doors, your money would be safe.
When you open a Haven Personal Investment Account or Haven Individual Retirement Account, you are opening a brokerage account held by our clearing house Apex Clearing. All of the securities in your portfolio are owned by you. Your investments are held in a federally regulated broker-dealer called Apex Clearing Corporation. This company acts as a custodian for all the investments Haven users purchase. Apex is regulated by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), an agency called the Securities Investor Protection Corporation (SIPC), which together protect your investments against fraud and the potential bankruptcy of the company holding your investments.
Through Apex Clearing, Haven Personal Investment accounts and Haven Individual Retirement accounts are SIPC-protected (up to $500,000 per account type) against losses resulting from the failure of a broker-dealer. This means that, in the event of fraud or bankruptcy, SIPC would return up to $250,000 in cash and up to $500,000 for non-cash investments such as stocks and ETFs. It’s important to know that $500,000 is the standard amount that SIPC offers for investment companies. Important note: Unlike FDIC insurance for banks, SIPC does not protect against losses due to normal swings in the market.