Segregating Client and Corporate Assets

Fiduciary duty is of the utmost importance for us at Mission – in fact, it is our mission to ensure that our clients’ best interests are protected. The segregation of client assets from corporate assets is one of the ways we protect clients’ best interests.

Mission maintains and routinely tests its own internal controls and our corporate records and client data are rigorously audited by two entities each year: an independent third-party accounting firm and the Arizona Department of Insurance and Financial Institutions. The audits are conducted independently of each other. Each examination reviews and confirms that the company’s policies and procedures related to asset segregation are being followed.

It’s also the law. Mission is a state-charted financial institution and we follow Arizona banking laws. Arizona statutes say that a bank acting as a fiduciary must segregate client assets from the bank’s assets. A.R.S. § 6-383.

Asset segregation ensures that client assets are secure and not commingled with Mission’s assets. Your investments never become a part of Mission’s balance sheet. This clear distinction between client and corporate funds ensures that your funds are always available to you.

By Rhonda Perez, Chief Financial Officer

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