With the rise of digitalization in financial services, it’s essential to understand how your money and information are being kept safe. Keeping your data secure is of utmost importance at FLIT Invest and we ensure every measure is in place to keep your investments and information safe.
Safety of your investments
FLIT Invest is an SEC-registered Investment Adviser that provides investment advisory services. That means all our record keeping is subject to compliance examinations by the Securities and Exchange Commission. They make sure we’re abiding by the law, maintaining appropriate compliance programs to meet these laws, and adhering to disclosures we have made to our users.
The safety of your assets is our utmost priority, which is why all FLIT Invest accounts are in the custody of Apex Clearing Corporation (Apex). Apex is an SEC-registered broker-dealer and member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Therefore, your FLIT Invest account is SIPC-protected up to $500,000, including $250,000 in cash balances. SIPC protects against losses resulting from the insolvency of a broker-dealer.
Safeguarding your personal data
We have implemented industry best practices and hold ourselves accountable to the highest standards for your money and data. FLIT Invest encrypts all stored data with 256-bit encryption, the same level of security as at large financial institutions.
As a financial services company, we must collect personal details to verify your identity. Personal data you need to provide includes your name, date of birth, email address, home address, phone number, and citizenship information. FLIT Invest is required by law to verify your identity using your Social Security Number (SSN), but we may ask for additional information if we are unable to verify your identity. We never store your SSN; it’s only used for a one-time verification that helps to keep your account safe at FLIT Invest.
Data security behind the scenes
We regularly test our products for vulnerabilities and chinks in the armor to spot security risks. validate our security posture with third-party penetration testing. We constantly monitor our network environment to detect potential cybersecurity events and further test the reliability of our event detection processes.
In addition to SIPC protection, FLIT Invest monitors unusual activity across all accounts and systems to ensure the safety of your funds, data, and personal information. FLIT Invest also considers the sources of red flags to prevent identity theft incidents. Finally, the portfolio managers and other operations or trading personnel also manage and monitor client investment activities to identify any suspicious activity.
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Footnote 1: Content is for informational and educational purposes only. Any views, strategies or products discussed may not be appropriate for all individuals and are subject to risks. Investors may get back less than they invested, and past performance is not a reliable indicator of future results. The information contained herein should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. Investors should carefully consider the investment objectives and risks as well as charges and expenses of a mutual fund or ETF before investing.
Footnote 2: FLIT Invest does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.