Q&A with Financial Services Professional Curtis Lyman

December 9, 2012 § Leave a comment

A partner at HighTower Advisors, Curtis Lyman has been a financial services professional for over 30 years. In this interview, he shares his perspective on the concepts of custody and clearing.

How do you define custody and clearing?
Custody is a service provided by a financial institution. Literally, the institution takes custody of assets on behalf of its client. A successful custody service ultimately protects one’s assets. A cleared trade demarks a successful trade. It means that a buyer and seller have exchanged funds and securities and that the transaction has been completed.

How does HighTower Advisors provide unique custody services?
We create relationships with carefully vetted independent custodians—thereby eliminating potential conflicts of interest between HighTower, the custodian, and our clients. HighTower does not act as a custodian. Through the use of an independent, third-party custodian, HighTower clients enjoy greater control over their assets. This arrangement enhances HighTower’s ability to provide unconflicted and independent financial advice.

Which independent custodians do you work with?
HighTower Advisors works with several trusted financial service companies, including Fidelity Investments, J.P. Morgan Clearing Corp., and Charles Schwab & Co. Inc.


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