Investore will act as your investment adviser and Apex Clearing Corporation (“Apex”) will carry the Account and act as the custodian.
Investore does not receive your investment funds directly: our clients' investment accounts remain in the custody of Apex, where you will deposit your funds.
Apex is a custodian, a financial institution that holds customers' securities for safekeeping in order to minimize the risk of their theft or loss. Investment advisory firms routinely use custodians to safeguard the assets they manage for their clients.
It is licensed in 53 states and territories, and holds 12.2M+ investor accounts (Information obtained from https://www.apexclearing.com/ to jun 2019).
You can verify that Apex is registered visiting FINRA BrokerCheck (https://brokercheck.finra.org/).
Apex is also a member of SIPC, that protects client accounts against the loss of their securities in the event of the member’s insolvency and liquidation by replacing missing securities and cash up to a maximum of $500,000 per client ($250,000 in cash).