Vanguard Capital has announced that it offers clients three levels of insurance protection for personal, corporate, and qualified retirement accounts.
Vanguard Capital offers up to $50 million in Federal Deposit Insurance Corporation (FDIC) insurance protection per account through the Certificate of Deposit Account Registry Service (CDARS) national certificate of deposit network.
Through CDARS, individuals, corporations, partnerships, pension and profit sharing plans, and individual retirement accounts can receive $50 million in FDIC coverage, rather than the traditional $100,000 coverage. The higher FDIC coverage applies to certificates of deposit placed with a network of 2,300 member banks located throughout the US from which the client may choose.
Vanguard Capital client accounts are also insured by the Securities Investor Protection Corporation (SIPC). SIPC is the US investors’ first line of defense in the event of a securities broker dealer failure.
SIPC acts as the trustee for clients or works with an independent court appointed trustee in all broker dealer insolvencies. Clients of a failed securities broker dealer receive all non-negotiable securities such as stocks or bonds already registered in their names or in the process of being registered. At the same time, funds from the SIPC reserve are available to satisfy remaining claims of each customer up to a maximum of $500,000. This figure includes a maximum of $100,000 on claims for cash.