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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
-
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.
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