POLICIES & DISCLOSURES OF NORTHLAND SECURITIES, INC. AND AFFILIATED COMPANIES OF NORTHLAND CAPITAL HOLDINGS, INC.
Account Terms of Service
Business Continuity Plan
FINRA Rule 4370 requires a firm to disclose how its Business Continuity Plan addresses possible business disruption in various scenarios and its response to those scenarios.
Customer Identification Program
Electronic Delivery of Documents Information
Extended Hours Trading Risk
FINRA BrokerCheck Website
Northland Securities is a Member of FINRA and SIPC, and Registered with SEC and MSRB. BrokerCheck is a free tool which is part of FINRA’s ongoing efforts to help investors make informed choices about brokers (investment representatives), and brokerage firms. BrokerCheck also provides information about formerly registered brokers, who although no longer registered in the securities industry, may work in other financial services industries. The information contained in BrokerCheck is collected through FINRA’s registration process.
License and Registration Disclosure
Registered Representatives of Northland Securities only transact business in states where they are properly registered, or excluded or exempted from registration requirements. Response to, or contact with, residents of other states will only be made upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase, brokerage services to/from persons outside of the U.S. We reserve the right to require proof of residence from any user accessing this site and requesting information. It is not intended for use by, or to provide any information to investors outside of the U.S., as they are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site.
Northland Securities is a Member of FINRA and SIPC, and Registered with SEC and MSRB. Information regarding the Municipal Securities Rulemaking Board (MSRB) rules protecting investors and how to file a complaint with an appropriate regulatory authority are available in a MSRB investor brochure. The investor brochure is available at website address http://msrb.org/msrb1/pdfs/MSRB-Investor-Brochure.pdf or by telephone request at (202)838-1500.
Mutual Funds Breakpoint Information
Order Execution and Routing Practices Policy
At Northland, we value the trust you have placed in us and take our responsibilities to you very seriously. Processing your trades efficiently and effectively is an integral part of the service you should expect from Northland.
The Securities and Exchange Commission and FINRA require that all broker-dealers provide information about the routing destinations and execution detail for customer orders. To address this requirement, Northland Securities has produced a quarterly report which gives execution information and identifies order routing destinations. Northland Securities routes the majority of orders to the clearing firm, Pershing LLC. Pershing also produces a report that displays routing destinations and execution information for the orders that they receive from Northland.
- Order Execution and Routing Disclosure (SEC Rule 11A(c) – Pershing)
- Order Routing Disclosure (SEC Rule 606 – Quarter-end for 12/31/2019)
Order Flow Statement
In return for routing orders to a specific market center, Northland may receive cash payment. All customer orders subject to payment for order flow are sent to market centers that execute market and marketable limit orders at prices not inferior to the displayed National Best Bid or Offer (“NBBO”). Each market center provides the opportunity for execution of orders at prices better than the NBBO. Each order is exposed to all exchanges and market centers for potential price improvement. Northland currently does not receive monetary compensation for order flow. A small percentage of NASDAQ orders are routed internally to our market maker. Northland executes these internal orders in a principal capacity, which may produce profit for Northland. This information is provided pursuant to SEC Rule 11A(c)(1-3) and SEC Rule 606.
Pershing Client Account Protection Information
- Visit Northland’s webpage with links to Pershing LLC Information
Pershing Corestone Account Fee Disclosure
Northland is committed to the confidentiality and protection of personal non-public information obtained from clients. The privacy of your personal information and the way Northland treats that information is among Northland’s highest priorities. This is our opportunity to share with you the reasons why we need this information and our commitment to protecting the information you provide.
The Securities and Exchange Commission (“SEC”) has adopted Regulation BI (“RegBI”), a new rule under the Securities Exchange Act of 1934 (“Exchange Act”) establishing a “best interest” standard of conduct for broker-dealers and Registered Investment Advisors (“RIAs”) and associated persons when making a recommendation of any securities transaction or investment strategy involving securities to a retail customer. The standard of conduct is to act in the best interest of the retail customer at the time a recommendation is made, without placing the financial or other interest of the broker-dealer, RIA, or associated person making the recommendation ahead of the interest of the retail customer. The SEC concurrently adopted a rule requiring each broker-dealer and RIA to provide its retail clients and file with the SEC a “Client Relationship Summary” (“Form CRS”) providing information about that broker-dealer or RIA and the way it conducts business.
The RegBI Form CRS compliance and implementation date is June 30, 2020.
- Investor.gov Online Resource Site – SEC’s Office of Investor Education and Advocacy (OIEA)
- FINRA Key Topic – SEC Regulation Best Interest
- SEC Regulation Best Interest, Form CRS, and Related Interpretations
- Northland Form CRS Broker-Dealer ONLY (6-30-2020)
- Northland Form CRS Broker-Dealer & RIA DUAL (6-30-2020)
- Northland RegBI Disclosure Document (6-30-2020)
SEC Registered Investment Advisor (RIA) Program Disclosures
Northland Securities, Inc., Member of FINRA and SIPC, and Registered with SEC and MSRB. Northland conducts SEC Registered Investment Advisory business as Northland Asset Management. This RIA offers portfolio management services to institutions and individuals.
As a Registered Investment Advisor (RIA) registered with the SEC, Northland Asset Management is required to provide details on our business through a pre-defined format laid out in the SEC’s Form ADV. This is Northland Asset Management ‘s Investment Advisory Brochure/Form ADV. Some Registered Representatives of Northland Securities may act as Investment Adviser Representatives (IARs) of Northland Asset Management.
Registration as an Investment Adviser Representative does not imply a certain level of skill or training. A full text of Northland’s Code of Ethics is available upon request.
Securities Investor Protection Corporation (SIPC)
Northland Securities is a Member of FINRA and SIPC, and Registered with SEC and MSRB. SIPC is an important part of the overall system of investor protection in the United States. SIPC was created under the Securities Investor Protection Act as a non-profit membership corporation which protects against the loss of cash and securities – such as stocks and bonds – held by a customer at a financially-troubled SIPC-member brokerage firm. SIPC protection is limited and it does not protect against the decline in value of your securities. Investments in the stock market are subject to fluctuations in market value; SIPC was not created to protect against these risks.
If you have any questions or comments, or for additional information, please contact us at:
Northland Securities Corporate Headquarters | Fifth Street Towers | 150 S. 5th St, Suite 3300 | Minneapolis, MN 55402 | Toll Free: 800.851.2920 | Phone: 612.851.5900
Any web links being provided are strictly as a courtesy to our clients. When you link to any of the sites provided here, you are leaving our site. Our company makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, sites, information, and programs made available through this site. We do not necessarily endorse or accept any liability/responsibility for the content or use of these sites. Northland makes every effort to maintain current information, but please be aware information on this page may have changed.