Frequently Asked Questions
How big is J.P. Turner? We are one of the fastest growing broker/dealers, advisory services firms in the country with more than 185 independent branch offices nationwide. What makes us unique is our continued focus on developing personal relationships with our representatives. We are a growing firm committed to maintaining a small business atmosphere.
Who is your clearing firm?
Accounts are carried by Penson Financial Services, Member SIPC.
How are client investments protected?
Excess SIPC Coverage
Penson Financial Services, Inc. (Penson) is a member of the Securities Investor Protection Corporation (SIPC), which protects cash and securities held in customer accounts of its members up to a ceiling of $500,000, including a maximum of $100,000 for cash claims. For information regarding SIPC protection, contact SIPC at (202) 371-8300 or visit www.sipc.org.
Penson has purchased an additional insurance policy through a group of London Underwriters (with Lloyd's of London Syndicates as the Lead Underwriter) to supplement SIPC protection. This additional insurance policy becomes available to customers in the event that SIPC limits are exhausted and provides protection for securities and cash up to an aggregate of $600 million. This is provided to pay amounts in addition to those returned in a SIPC liquidation. This additional insurance policy is limited to a combined return to any customer from a Trustee, SIPC and London Underwriters of $150 million, including cash of up to $2 million.
Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities.
How will I become familiar with J.P. Turner once I'm on board?
We come to you! Each department manager will contact you and conduct an orientation on their department's processes and answer your questions. You will be assigned a dedicated operations transition specialist that will assist you in transferring client accounts and ensure your systems are up and running. Once your transition is complete, you will be assigned an area vice president and a permanent operations liaison to provide as much, or as little, ongoing support as you'd like.
What technology do you use?
Our state-of-the-art back-office systems provide real-time access to customer accounts. One-click trading provides integrated access to equities, bonds, mutual funds and options. Presentation tools help you prepare professional client proposals and investment scenarios using advanced calculators and portfolio metrics. Integrate your day's activities, portfolio reports and tax accounting. Talk to a business development staff member to gain access our demo site where you can explore the tools and technology available to you.
What fees are involved in setting up a branch office?
We have the lowest fee structure in the industry! Unlike other firms, we do not currently charge for access to back office support, set up fees, monthly service fees or technology fees. Because each branch's business model is different, we encourage you to talk to a member of our business development team for specifics.
How do you help reps grow their business?
J.P. Turner has dedicated marketing and business development departments. We offer hands-on assistance, turn-key marketing solutions and educational opportunities to help craft your idea business model.
