Common use of Pershing and Pershing Advisor Clause in Contracts

Pershing and Pershing Advisor. Solutions earn compensation based on the amount of money in the Program, including your money. Pershing and Pershing Advisor Solutions may earn higher compensation on some Money Funds or Bank Sweep Products versus others. In addition, if your Investment Advisor is offering a program sponsored by a Pershing/Pershing Advisor Solutions affiliate which is determining the amount of cash available over time as part of your portfolio or strategy, this will affect the amount of compensation Pershing or Pershing Advisor Solutions earns in the Program, and it is likely that the compensation will fluctuate over the life of the account. The amount of compensation earned by Xxxxxxxx and Pershing Advisor Solutions will affect the interest rate paid on the Bank Sweep Product and Investor Cash balances. You will not have a direct account with the Money Fund providers or with the banks participating in the Bank Sweep Products available in the Program. Xxxxxxxx, as your agent, will establish omnibus accounts at the Money Fund providers and banks for the purpose of making deposits and withdrawals into the products available in the Program on your behalf. You will be entitled to your proportionate pro-rata share of any omnibus account into which your brokerage or bank custody account funds are swept, and with respect to the Bank Sweep Product, your proportionate interest in any Bank Sweep Product omnibus account at a single bank will be covered by federal deposit insurance up to the $250,000 deposit insurance per eligible account type limit.