Ethics & Transparency

Our success is Driven By Yours

Parsec takes ethical business practices and transparency seriously. Both are integral parts of our company culture and underpin our day-to-day activities. Our commitment to high ethical standards is reflected in the people we hire and their commitment to professional development through continuing education and industry designations. We believe that strong ethical business practices, transparency, and a commitment to professional development are the best ways to serve you, our client, over the long-run.

Access to Your Money

As a Parsec client your money will always be registered in your name. Your account will be held at a large reputable custodian, such as Fidelity Investments, National Advisors Trust, Charles Schwab or T.D. Ameritrade. You will have 24-hour online access to your accounts through these custodians and will receive account statements directly from them. We have access only to those accounts for which you give us authority, such as trading authority or authority to move money between the accounts that you designate.

We are Regulated by the SEC

Parsec is an investment advisor registered with the Securities and Exchange Commission under the Investment Advisors Act of 1940. The SEC imposes stringent regulations on Investment Advisors with the intention of protecting investors. As such, we are subject to surprise examinations by the SEC and are required to give full disclosure of our practices and any potential conflicts of interest.

Parsec Claims Compliance with the Global Investment Performance Standards (GIPS®)

GIPS® refers to Global Investment Performance Standards. As the name implies, the CFA Institute created a global set of rules governing how companies would prepare and present that firm’s performance information to prospective clients and referral sources. The rules also apply to how those results are advertised. The ultimate goal is to have full transparency in how the data is presented. Firms who claim compliance to these Standards agree to abide by these rules and implement strict practices to achieve compliance. It is recommended that firms also have their data reviewed by a third-party consultant to confirm that the correct processes are implemented and followed and that data is presented in the appropriate manner. When looking at a firm’s results, the claim of GIPS® compliance carries weight. Because firms voluntarily comply with the Standards, it demonstrates a commitment ethical practices and honest presentation of data. A firm invests significantly to attain GIPS® compliance. The level of work involved really cannot be overstated. Everyone in the firm must participate in achieving a goal that is strictly voluntary. We at Parsec feel it is worth the effort. We want to provide you with data that will allow you to make an informed decision. When comparing our firm’s performance results against another firm’s presentation, the claim of compliance gives you with an assurance that strict procedures were followed. To receive a list of composite descriptions and/or a presentation that complies with the GIPS® standards, please contact Vicki Oxner.

Code of Ethics

We conduct business by a code of ethics. As an SEC registered firm, we are required to maintain a code of ethics that discusses any potential conflicts of interest and the procedures we have in place to avoid potential conflicts of interest. Each year all Parsec employees sign a disclosure acknowledging they have read the code of ethics. Beyond that, we believe strongly in high professional standards. This includes making sure you have a team of credentialed financial advisors. Both the CFP® and CFA designations incorporate their own in-depth ethics curriculum into their programs and require adherence to the highest ethical standards. Like Parsec, these organizations are also committed to furthering the financial profession through continuing education. Learn more here: www.cfp.net and www.cfainstitute.org

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Using Our 40 Years of Excellence to Help Define Your Path Forward

Get in touch with a Parsec Financial representative at an office near you.

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