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Protected Investors of America, Inc. (PIA), founded in 1934, is a full service Broker Dealer and an SEC Registered Investment Advisor headquartered in San Francisco’s Financial District.  Our investment services are provided through a network of independent Advisors including  CFPs®, CFAs, financial advisors, and asset managers who serve clients throughout the United States and abroad.   PIA’s financial advisors provide customized financial advice, investment options, and personalized service for a wide range of financial objectives. PIA puts clients first, and we attribute our long history of success to our standards of excellence, integrity, ethical practices and commitment to each individual client.  National Financial Services (NFS) LLC - an industry leader and a Fidelity company - provides trade execution, clearing, and custody as well as advanced technology for research, trading, and reporting.  PIA Advisors  have offices throughout California and their clients reside throughout the world.

PIA is licensed as a Broker/Dealer in AL, AZ, CA, CO, CT, DC, FL, GA, HI, IA, ID, IL, IN, LA, ME, MD, MA, MI, MN, MO, MT, NC, NE, NV, NJ, NM, NY, OH, OR, PA, RI, TN, TX, UT, VA, WA, WI, and may only transact business in these states.  PIA is registered with the SEC as a Registered Investment Advisor in AZ, CA, FL, MA, ME, NV, OR, PA, TX, UT, WA, and WI. If you are do not reside in one of the above listed states, we will not attempt to transact securities for your account or to provide personalized investment advice to you unless and until we are licensed in your state or international jurisdiction. If you do not reside in one of the listed states, and are interested in PIA’s services, please contact the home office for more information.

  • What is a broker dealer?
  • An entity that buys or sells securities to and from the public.
  • What is an RIA?
  • An entity, registered with the SEC, which manages the investments of others and/ or provides financial planning services in return for fees.
  • PIA History
  • In 1934 our founder, Churchill C. Peters of San Francisco, introduced a new concept to the investment field - personalized financial planning. During the difficult times of the Depression, he never lost hope for the economic recovery of the United States. He also resolved to help as many Americans as possible avoid financial disaster. As a result, a new company - Protected Investors of America - was born and is doing business today from our twenty offices, most of which are located in the bay area. PIA has been headquartered in San Francisco’s historic Russ Building since 1937. Protected Investors of America, Inc. (PIA), provides customized financial advice, investment options, and personalized service for a wide range of financial objectives. Our standards of excellence, ethical practices and commitment to each advisor and client have resulted in a long history of success. We put our clients first, and we attribute our long history of success to our standards of excellence, integrity, ethical practices and commitment to each individual client. PIA is wholly owned and directed by our Associates who are all independent contractors. A member of the National Association of Securities Dealers (now FINRA) since its inception in 1939, PIA is a full-service Broker Dealer and a federally registered Investment Advisor proud to provide personalized service to clients in the Greater Bay Area and surrounding communities, as well as throughout the United States and foreign countries. PIA is an SEC Registered Investment Advisor and a member of both the MSRB & SIPC. PIA Advisors have offices throughout California and their clients reside throughout the world.
  • Our Clients
  • We have long-standing relationships with our clients who include individuals, businesses, municipalities, foundations and trusts; they have differing needs and differing objectives, both short-term and long-term. Whether you are just starting out or a seasoned, sophisticated investor, PIA can provide the expertise to help you meet your financial goals. You may want to fund a college education, retire comfortably, or pass on estate assets. We review your current situation, help you define goals, determine your risk threshold and help you choose diversified and suitable investments. Our services are tailored specifically for you.
  • Types of Accounts & Products
  • We provide guidance, tools and resources for investing in all types of securities. When a PIA advisor recommends an investment they have no conflict of interest because PIA has no proprietary or preferred investment products. Our asset classes include Common and Preferred Stocks, Fixed Income vehicles including Government and Municipal Securities and CD’s, Mutual Funds, Exchange-traded Funds, Socially Responsible Investments, REITS, Insurance, and Limited Partnerships such as Real Estate or Gas and Oil. Account types include Individual, Joint, Transfer On Death, Margin, Options, 529 College Plans, IRA’s, Corporate, Trust, Foundation, and Uniform Gift to Minors.
  • Our Services
  • Through the financial counseling process we help you develop investment strategies that may include the use of any of the following:
    Investment Management
    Mutual Funds
    Stocks
    Tax Exempt Bonds
    Government Bonds
    Corporate Bonds
    Real Estate Investments
    Tax Sheltered Annuities
    Insurance Programs
    Specialized Investments
    Qualified Retirement Plans

  • Payment for Order Flow Disclosure (SEC Rule 606)
  • The Securities and Exchange Commission ("SEC") rules require broker-dealers that route orders in certain equity and option securities to make available to the public quarterly reports that present a

    general overview of their routing practices.   This information is intended to provide an overview of our firm’s order routing practices. 

    The report below provides information on the routing of "non-directed orders" - any order that the customer has not specifically instructed to be routed to a particular venue for execution.  

    Your account is held at National Financial Services "the clearing firm" with Protected Investors of America (PIA) as "the introducing firm."  PIA and National Financial Services have a clearing relationship only.  

    For non-directed orders, NFS has selected the execution venue on behalf of its customers.   

     

    PIA does not receive payment for order flow from NFS.


    

                                            SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2009

                                                                     Securities Listed on New York Stock Exchange

    Summary Statistics :

       Non-directed orders as percentage of total customer orders           100.00%

       Market orders as percentage of total non-directed orders                   90.46%

       Limit orders as percentage of total non-directed orders                        8.13%

       Other orders as percentage of total non-directed orders                       1.41%

     Venues Receiving Significant Percentage of Total Non-Directed Orders :

          1.  Knight Capital Markets, L.L.C.                                                          30.69%

          2.  National Financial Services, L.L.C.                                                  16.70%

          3.  UBS Securities, L.L.C.                                                                        16.38%

          4.  Automated Trading Desk Financial Services, L.L.C.                    13.77%

          5.  Citadel Derivatives Group LLC                                                         11.39%

          6.  Citigroup Global Markets, Inc.                                                             7.81%

          7.  Goldman, Sachs & Co.                                                                         0.98%

          8.  Cantor Fitzgerald & Co.                                                                        0.54%

          9.  AlterNet Securities Inc.                                                                         0.33%

        10.  BATS Trading, Inc.                                                                                 0.33%

     Information Concerning Significant Venues :

     1.   Knight Capital Markets, L.L.C.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders              30.70%

                     Limit orders as percentage of total limit orders                       18.67%

                     Other orders as percentage of total other orders                  100.00%

     2.   National Financial Services, L.L.C.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders              18.35%

                     Limit orders as percentage of total limit orders                         1.33%

                     Other orders as percentage of total other orders                      0.00%

 

     3.   UBS Securities, L.L.C.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders               15.59%

                     Limit orders as percentage of total limit orders                       28.00%

                     Other orders as percentage of total other orders                      0.00%

     4.   Automated Trading Desk Financial Services, L.L.C.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders               12.83%

                     Limit orders as percentage of total limit orders                       26.67%

                     Other orders as percentage of total other orders                      0.00%

     5.   Citadel Derivatives Group LLC

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders               10.79%

                     Limit orders as percentage of total limit orders                       20.00%

                     Other orders as percentage of total other orders                      0.00%

     6.   Citigroup Global Markets, Inc.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders                 8.51%

                     Limit orders as percentage of total limit orders                         1.33%

                     Other orders as percentage of total other orders                      0.00%

     7.   Goldman, Sachs & Co.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders                 0.96%

                     Limit orders as percentage of total limit orders                         1.33%

                     Other orders as percentage of total other orders                      0.00%

     8.   Cantor Fitzgerald & Co.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders                 0.60%

                     Limit orders as percentage of total limit orders                         0.00%

                     Other orders as percentage of total other orders                     0.00%

     9.   AlterNet Securities Inc.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders                 0.36%

                     Limit orders as percentage of total limit orders                         0.00%

                     Other orders as percentage of total other orders                      0.00%

     10. BATS Trading, Inc.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders                 0.12%

                     Limit orders as percentage of total limit orders                         2.67%

                     Other orders as percentage of total other orders                      0.00%

 

 

                                                                      Securities Listed on The Nasdaq Stock Market

    Summary Statistics :

       Non-directed orders as percentage of total customer orders           100.00%

       Market orders as percentage of total non-directed orders                   94.43%

       Limit orders as percentage of total non-directed orders                        5.57%

       Other orders as percentage of total non-directed orders                       0.00%

     Venues Receiving Significant Percentage of Total Non-Directed Orders :

          1.  Knight Equity Markets, L.P.                                                                30.96%

          2.  Citadel Derivatives Group LLC                                                         18.89%

          3.  National Financial Services, L.L.C.                                                  14.24%

          4.  UBS Securities, L.L.C.                                                                        12.69%

          5.  Automated Trading Desk Financial Services, L.L.C.                      9.60%

          6.  Citigroup Global Markets, Inc.                                                             5.88%

          7.  Cantor Fitzgerald & Co.                                                                        4.33%

          8.  BNY ConvergEx Execution Solutions L.L.C.                                    2.17%

          9.  Goldman, Sachs & Co.                                                                         0.62%

        10.  AlterNet Securities Inc.                                                                         0.31%

     Information Concerning Significant Venues :

     1.   Knight Equity Markets, L.P.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders               31.15%

                     Limit orders as percentage of total limit orders                       27.78%

                     Other orders as percentage of total other orders                      0.00%

     2.   Citadel Derivatives Group LLC

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders               18.69%

                     Limit orders as percentage of total limit orders                       22.22%

                     Other orders as percentage of total other orders                      0.00%

     3.   National Financial Services, L.L.C.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders               15.08%

                     Limit orders as percentage of total limit orders                         0.00%

                     Other orders as percentage of total other orders                      0.00%

     4.   UBS Securities, L.L.C.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders               12.13%

                     Limit orders as percentage of total limit orders                       22.22%

                     Other orders as percentage of total other orders                      0.00%

     5.   Automated Trading Desk Financial Services, L.L.C.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders                 8.52%

                     Limit orders as percentage of total limit orders                       27.78%

                     Other orders as percentage of total other orders                      0.00%

 

     6.   Citigroup Global Markets, Inc.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders                 6.23%

                     Limit orders as percentage of total limit orders                         0.00%

                     Other orders as percentage of total other orders                      0.00%

     7.   Cantor Fitzgerald & Co.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders                 4.59%

                     Limit orders as percentage of total limit orders                         0.00%

                     Other orders as percentage of total other orders                      0.00%

     8.   BNY ConvergEx Execution Solutions L.L.C.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders                 2.30%

                     Limit orders as percentage of total limit orders                         0.00%

                     Other orders as percentage of total other orders                      0.00%

     9.   Goldman, Sachs & Co.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders                 0.66%

                     Limit orders as percentage of total limit orders                         0.00%

                     Other orders as percentage of total other orders                      0.00%

     10. AlterNet Securities Inc.

               Types of Orders Routed to Venue :

                     Market orders as percentage of total market orders                 0.33%

                     Limit orders as percentage of total limit orders                         0.00%

                     Other orders as percentage of total other orders                      0.00%

 

Securities Listed on NYSE Amex or Regional Exchanges

    Summary Statistics :

       Non-directed orders as percentage of total customer orders           100.00%

       Market orders as percentage of total non-directed orders                   92.39%

       Limit orders as percentage of total non-directed orders                        5.43%

       Other orders as percentage of total non-directed orders                       2.17%

     Venues Receiving Significant Percentage of Total Non-Directed Orders :

          1.  Knight Capital Markets, L.L.C.                                                          38.04%

          2.  National Financial Services, L.L.C.                                                  20.65%

          3.  Citadel Derivatives Group LLC                                                         18.48%

          4.  UBS Securities, L.L.C.                                                                        11.96%

          5.  Automated Trading Desk Financial Services, L.L.C.                      9.78%

          6.  Credit Suisse Securities (USA) L.L.C.                                               1.09%

Protected Investors of America, Inc. is an SEC registered Investment Advisor and a Member of FINRA , SIPC, and MSRB.