In today’s online world, people are frequently asked to hand over personal information. They are presented with “Terms of Service” and “Privacy Policies” that few if any read. All too frequently, companies announce that their websites and businesses have been breached and their data stolen. How can a consumer be sure that one’s data is secured? While there are no guarantees, financial service firms go to extra lengths to ensure your data’s security.
At Tradition, all assets are held, and all trades executed, by TD Ameritrade Institutional (TDAI). TDAI is a member of SIPC, which protects against the loss of cash and securities held by a customer at a SIPC-member brokerage firm. The limit of SIPC protection is $500,000, which includes a $250,000 limit for cash. SIPC protection is limited. It only protects the custody function of the broker dealer in the case of the brokerage firm failing. In the unlikely event that something happened to TD Ameritrade Institutional, you could still expect to get your securities back. It is important to note that SIPC does not protect against losses due to changes to the market price of the security. For more information, please visit http://www.sipc.org.
To maintain this high level of security we have controls that are continually monitored and updated to ensure your safety, they include:
- Multi-layered security of servers and applications
- Multi-faceted internal and external firewalls
- Regular checks on our security measures and technology updates
- Secure Socket Layer (SSL) 128- bit encryption to protect our client’s information that is sent or received from secure sites
- Use of encrypted password logins to our secure websites to protect against unauthorized log-ins to client’s accounts
- Automatic session terminations when a period of inactivity is detected
While Tradition and TD Ameritrade make every effort to keep data secure, there are also steps clients should take to make it more difficult for hackers to access their information. The article “Is Your Data Safe with a Robo-Advisor?” discusses the safety of using robo-advisors as well as 5 simple steps to take to protect your data.
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