Northfield Savings Bank provides its customers with access to investment services through a partnership with LPL Financial. It’s important for customers to understand this relationship and how it affects the services offered. Securities and advisory services are available through LPL Financial (LPL), a registered investment advisor and broker-dealer, member of FINRA and SIPC.
When you see “Northfield Investment Services,” it’s important to know that this refers to the services offered by LPL Financial representatives who may be located at Northfield Bank. Northfield Bank and Northfield Investment Services themselves are not registered as broker-dealers or investment advisors. This means that while you might be interacting with someone at your local Northfield Savings Bank branch, the investment products and services are actually being offered through LPL Financial or its affiliates. These entities are separate from Northfield Bank.
It is crucial to understand that investments offered through LPL Financial are:
NOT INSURED BY FDIC OR ANY OTHER GOVERNMENT AGENCY • NOT BANK GUARANTEED • NOT BANK DEPOSITS OR OBLIGATIONS • MAY LOSE VALUE
This means your investment accounts are not protected in the same way as your bank deposits. There is a risk of losing money when you invest.
The services offered under Northfield Investment Services are designed for U.S. residents only, specifically those in New York (NY) and New Jersey (NJ). LPL Financial registered representatives associated with Northfield Investment Services can only conduct securities business with residents of these states.
Northfield Bank refers clients to LPL Financial professionals as part of a referral agreement. This agreement means Northfield Bank receives compensation from LPL for these referrals, which presents a potential conflict of interest. It’s important to be aware of this financial incentive. Northfield Bank itself is not a client of LPL for brokerage or advisory services.
For more comprehensive details, you can review LPL Financial’s relationship disclosure at https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html. You can also view LPL Financial’s Privacy Policy for information on how your personal data is handled: https://www.lpl.com/disclosures/privacy-security/online-privacy-policy.html.
This information is for informational purposes only and should not be considered a solicitation or offer to buy or sell any securities. It is intended to provide clarity on the relationship between Northfield Savings Bank and LPL Financial for investment services.
