Third-Party Custody vs. In-House Custody
Heritage Oak uses a third-party custodian for your assets. We do not keep your assets in-house. This gives us limited power over your assets; we have the power to buy and sell securities on your behalf, move funds between your accounts, and to have funds sent directly to you. Brokers may also serve as a qualified custodian with direct access to the cash and securities maintained in client accounts, which may pose additional risks associated with misappropriation or loss of the assets maintained in these accounts. By using a third-party custodian, you can crosscheck the records we provide you with the records from the custodian. This ensures you that your money is in all the right places at all times.