You made the choice to become a broker-dealer or evaluate your current clearing relationship for a reason.  At Sterne Agee Clearing, we complement your style of business. Our Correspondents are a valued relationship to Sterne Agee and as such your success is important to us.  We believe that having the benefits of a large New York city clearing firm with the small firm feel is key to our mutual success.

We will make the following commitment to you and your business:

1.      Our people will always respond quickly to any issue that may arise.

2.      We will always be courteous and professional in our relationship.

3.      We are committed to be an asset to your business at all times.

4.      Our people will always be willing to be as flexible as possible to accommodate your needs.

As you look closer at us you will find a group of professionals carrying on a tradition of excellent financial services that goes back over 100 years.  We invite you to partner with our organization and welcome you to an environment ideal for professionals who value superior support and service, and value relationship.

People

Developing a personal relationship with our staff is key to your success as well as ours. Our Operations staff consist of dedicated seasoned professionals with years of securities clearing experience.  One visit to our Birmingham facility will confirm your decision to join the Sterne Agee Clearing team was correct.

New Accounts Department

This department is responsible for servicing broker inquiries regarding new account procedures, assigning of new account numbers, establishing name and address files and requesting requisite client documentation.

Margin/Credit Department

The Margin Credit Department is responsible for the general maintenance and risk management of accounts.  This department monitors settlements in all types of accounts.  These functions include the approval of check requests and extensions of credit and margin account maintenance procedures. 

Cash Management

The Cash Management Department is responsible for the receipt and issuance of customer checks and wires. The Cash Management Department is also responsible for servicing the money market and money fund sweep products.

Securities Processing

The Securities Processing Department is responsible for accepting certificates sent by customers and insuring adherence to the “good delivery” rules.  Additional functions include, in certain instances, the transfer of securities to customers, legal transfer processing and all firm settlements with Depository Trust Company (DTC).

ACATS

The second department a newly arriving independent broker will come in contact with is the ACATS Department, where experienced personnel is there to assist you in the smooth transition of your customer accounts to SAL.  Responsibilities include the prompt processing of ACAT forms, monitoring pending account transfers, and ensuring proper acceptance of securities and monies into accounts transferring from other firms.  This department is also responsible for accounts transferring to other firms.

IRA Department

The primary function of the IRA Department is to open accounts, perform the general maintenance of the IRA Custodian for SAL accounts and process the distribution of assets in IRA accounts.  Other functions include making payments to beneficiaries, processing early retirement distributions, proper reporting to the IRS, and change of custodian paperwork upon the transfer of an account.

Mutual Funds/Networking

The Mutual Funds Operations Department is responsible for the processing of all mutual fund trades through the automated NSCC Fund/SERV system and “networking” of mutual fund accounts.  Networking allows customers to keep their shares at the mutual fund company while their share balances are shown and priced on their monthly SAL statement along with automatic reinvestment of dividends and capital gains if requested.

Dividend Department

The Dividend Department is responsible for the timely processing of dividends and interest on the payable date.  They are also responsible for processing stock splits, stock dividends, and spinoffs.