Glendale Securities, Inc customer accounts carried by Penson Financial Services, Inc. are protected by the Securities Investor Protection Corporation (SIPC) up to $500,000 (including $100,000 for claims for cash). An explanatory brochure is available upon request or at www.sipc.org. In addition PFSI has purchased supplemented coverage through Lloyds’ of London which provides additional coverage not to exceed $35 million per account including a cash sub limit of $900,000. This coverage does not protect against changes in the market value of securities (whether as a result of market movement, issuer bankruptcy or otherwise).

Penson Financial Service, Inc.'s Excess Coverage Statement