Due to the current fear and uncertainty spawned by the increasing list of bank failures, you may find yourself worried about your own bank, or more importantly your personal deposits within your chosen bank. What happens to your money if your bank fails?
This article is a great source of information on the Federal Deposit Insurance Corporation, and the extent of protection your current deposits have underneath this organization. Give it a read, and then review your current bank deposits to make sure you are covered correctly. Pay close attention to the section on strategies to increase your deposit insurance through various types of accounts, especially the information regarding certificates of deposit. You should stay aware of which individual CDs you own, the banks representing those CDs, and the amount of money invested within them to mitigate your risk of having funds that are uninsured.
Anderson Griggs & Company, Inc., doing business as Anderson Griggs Portfolio Management is a registered investment adviser with the US Securities & Exchange Commission. Pursuant to laws and regulations Anderson Griggs also maintains notice filing with several individuals state regulators including North and South Carolina. Anderson Griggs only conducts business in states and locations where it is properly registered or meets state requirements for advisors. This commentary is for information purposes only and is not an offer of investment advice. We will only render advice after we deliver our Form ADV Part II to a client in an authorized jurisdiction and receive a properly executed investment Management Agreement. Any reference to performance is historical in nature and no assumption about future performance should be made based on the past performance of any Anderson Griggs Investment Objective, individual account, or index. The authors of publication are expressing general opinions and commentary. They are not attempting to provide legal, accounting, or specific advice to any individual concerning their personal situation. Anderson Griggs Portfolio Management's office is located at 113 E. Main St., Suite 310, Rock Hill, SC 29730. The local phone number is 803-324-5044 and nationally can be reached via its toll-free number 800-254-0874.