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Frequently Asked Questions
How do I transfer my account(s) to California Capital Management?
Simply fill out the paperwork we provide, sign it, and we will submit the paperwork to LPL for processing. Most accounts should transfer within 10 business days. Other accounts will take longer, but in order to expedite the process we strongly suggest meeting with your advisor immediately to fill out and submit the appropriate paperwork.
When my accounts transfer to California Capital Management, can I view them online?
Yes. As soon as your accounts are established, our Client Service department will be happy to guide you through the simple process of setting up a user name and password. Once this process is complete, you can view your accounts as often as you like.
What firm will California Capital Management (CCM) utilize to process my investments?
CCM will utilize Linsco/Private Ledger (LPL) for back office operations including custodial services, technology, statement generation, research and compliance. LPL is America's No. 1 independent broker/dealer and serves over 5,100 veteran advisors nationwide. LPL is registered with the National Association of Securities Dealers, Inc. (NASD). For more information go to www.NASD.com. LPL is also a member of the Securities and Exchange Commission (SEC) and protects client accounts by being a member of the Securities Investor Protection Corporation (SIPC). For an explanatory brochure, please visit www.SIPC.org.
In laymen's terms, LPL acts as an independent third party processing client deposits, tracking investments, mailing client statements and tax documents, and performing due diligence functions on products and services. Simply put, we have replaced American Express's back office services with LPL's.
What protection will my accounts have at CCM using LPL as its broker/dealer?
LPL's SIPC membership provides account protection up to a maximum of $500,000 per customer, of which $100,000 may be in cash. Through Lloyds of London, LPL accounts have additional securities coverage of up to $99.5 million per customer. The account protection applies when an SIPC firm fails financially and is unable to meet obligations to securities clients, but it does not protect against losses from the rise and fall in the market value of investments. For an explanatory brochure, please visit www.SIPC.org.
Does LPL develop and market its own investment products?
One of the most important reasons financial representatives affiliate with LPL is because they do not develop or market their own proprietary investment products. Rather than creating and marketing their own investment products, LPL concentrates on providing service to its representatives, who are free to recommend investments that are best suited to their client's risk tolerance and investment objectives.
Who regulates broker/dealers?
LPL is a self-clearing broker/dealer registered with the National Association of Securities Dealers, Inc. (NASD) and the Securities and Exchange Commission (SEC) pursuant to the Securities Exchange Act of 1934, and an investment advisory firm registered with the Securities and Exchange Commission pursuant to the Investment Advisers Act of 1940. LPL is also registered as a Futures Commission Merchant with the Commodity Futures Trading Commission and is a member of the National Futures Association. Additionally, LPL is a member of the Boston Stock Exchange. LPL is licensed to operate in all 50 states and Puerto Rico.
Why have I never heard of LPL?
LPL does put any effort into branding their name to the general public as the general public cannot open an account with LPL unless it's opened through an LPL affiliated advisor. Instead, LPL markets itself to veteran advisor groups across the United States.
Who owns California Capital Management?
Brad Salo and Greg Zedlar each own 50% of California Capital Management..
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