About our Custodians
Zhang Financial utilizes independent, unaffiliated third-party custodians to hold client assets, including LPL Financial LLC (LPL) and Charles Schwab & Co., Inc. (Schwab). Zhang Financial works with more than one custodian to provide flexibility and accommodate different client needs, account types, and preferences. In some cases, clients may already have established relationships with a particular custodian, or certain account types may be better suited to one platform. These custodians are responsible for safeguarding client assets, executing transactions, and providing account statements. Zhang Financial does not take custody of client assets. Instead, we provide investment management and financial planning services, while client accounts are maintained directly with the custodian.
Roles and Responsibilities
Each party plays a distinct role in managing and maintaining your account:
- Zhang Financial - Provides investment advice, portfolio management, and financial planning services.
- LPL and Schwab - Maintain custody of client assets, execute transactions, and generate account statements directly to clients.
This structure helps ensure that client assets are held separately from the advisory firm and that clients receive independent reporting from their custodian.
About the Custodians
- LPL Financial LLC is a registered broker-dealer that provides clearing, custody, and execution services for client accounts. In its role as custodian, LPL maintains client account records, executes securities transactions, and provides trade confirmations and account statements directly to clients. LPL also supports a range of account types and provides operational infrastructure for independent investment advisers. LPL is subject to regulatory oversight and maintains safeguards designed to protect client assets.
- Charles Schwab & Co., Inc. is a registered broker-dealer and custodian that provides custody, trading, and account servicing for independent investment advisers and their clients. Schwab maintains client assets, executes transactions, and delivers account statements and confirmations directly to clients. Schwab also provides a broad platform of investment products and account services to support a variety of client needs. Schwab is subject to regulatory oversight and maintains safeguards designed to protect client assets.
Additional Information
Clients receive account statements and confirmations directly from their custodian. We encourage clients to review these materials carefully and to compare them with any reports provided by Zhang Financial. For more information about how client assets are protected, please see our Account Protection page.
Fee-Only, Transparent and Holistic Wealth Management.
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