Safeguarding Client Assets

We have taken great care to ensure that our clients’ assets are as safe and secure as possible. Assets are covered in a number of different ways:

Regulatory Safeguards

 Midwest Trust Company (MTC): GFS is independently owned and operated and conducts business as a trust service office of MTC. MTC is a Kansas non-depository trust company regulated and examined by the Office of the State Banking Commissioner of Kansas. As a trust service office, GFS is covered by a Financial Institution Bond as well as Management Liability and Fiduciary Liability Insurance.

Trust Investment Committee and Trust Advisory Committee Review: MTC and GFS committees meet monthly to review all accounts over the course of each year. The review encompasses investments, portfolio allocation vs. investment objectives statement, budgets, disbursements, and general client activity.

Regulators and Auditors: Operating under MTC’s charter, the assets and activities with GFS are subject to comprehensive regulatory oversight by the banking commissioner, including periodic exams and audits. All assets and transactions must be properly accounted for and clearly documented. MTC/GFS meet or exceed all banking regulator requirements regarding client protections, liability insurance, and capital reserves.

Financial Safeguards

 National Financial Services, A Fidelity Investments Company: Mutual Funds, Exchange Traded Funds (ETF), and Individual Stocks and bonds are held in custody at National Financial Services, a Fidelity Investments Company, Member NYSE, SIPC. All custody, brokerage, and institutional trading services are provided by Fidelity Investments.

Federal Deposit Insurance Corporation (FDIC): We disburse funds on behalf of our clients via a Master Demand Deposit Account. The money in this account is covered by FDIC insurance.

Internal Safeguards

 Internal Office: GFS requires two signatures on all client disbursements above $1,000. A monthly review is conducted by upper management on each account’s activity. GFS’s office is secured and protected by the office complex security system along with their own independent alarm system which is monitored by a 24-hour alarm service with police response. Additionally, GFS strictly enforces and maintains extensive computer server, online activity, email, and login practices and policies to provide maximum security for assets and confidential information.

Investment Approach: Above and beyond our extensive regulatory, financial, and internal safeguards, GFS seeks to provide safety and security through our conservative yet proactive approach to investing. Portfolio allocation is carefully designed, crafted, and executed based on the age of the beneficiary, known/assumed financial needs of the beneficiary over time, and input from the beneficiary and/or their circle of support.