The BBVA Investments division of BBVA Securities Inc. has discontinued its business operations and, as a result BBVA Securities Inc. no longer provides brokerage services to retail investors. In most cases, retail investors maintaining servicing arrangements with BBVA Investments prior to August 20, 2021, in the case of U.S. investors, or prior to September 17, 2021, in the case of non-U.S. investors (August 20, 2021 or September 17, 2021, as applicable, being referred to below as the “Applicable Service Cessation Date”), were given the opportunity to transfer servicing of their accounts to PNC Investments LLC (“PNCI”), an affiliate of PNC Bank.
The following information is provided for the convenience of former BBVA Investments retail brokerage customers:
Former BBVA Investment Customers With Accounts Cleared Through Pershing
U.S. Investors: If, prior to the Applicable Service Cessation Date, you held an account through BBVA Investments that was cleared by BBVA Investments’ clearing firm (Pershing LLC) –
• Unless you were notified that your account was not eligible to transfer to PNCI’s clearing firm (National Financial Services) or you opted-out of the transfer to PNCI, then you should contact your PNCI Financial Advisor or PNCI at 1-800-622-7086 if you have questions about your account or servicing needs.
• If you were notified that your account was not eligible to transfer to PNCI’s clearing firm (National Financial Services) or you opted out of the transfer to PNCI, you should contact Pershing at 201-761-5499 if you have questions about your account.
Non-U.S. Investors: Your account continues to be cleared by Pershing but servicing is through PNCI as “introducing broker.” If you have questions about your account or servicing needs, you should contact your PNCI Financial Advisor or PNCI at 1-800-622-7086 if you have questions about your account or servicing needs.
Former BBVA Investment Customers With Fund/Provider-Direct Accounts
If, prior to the Applicable Service Cessation Date, you held a fund/provider-direct mutual fund, 529 plan, annuity contract or variable universal life policy through BBVA Investments as “broker/agent of record” —
• Unless you opted out of the transfer to PNCI, PNCI is now the broker/agent of record and you should contact your PNCI Financial Advisor or PNCI at 1-800-622-7086 if you have questions about your account or servicing needs.
• If you opted out of the transfer to PNCI and have not appointed another service provider as your broker/agent of record for the investment, then you should contact the applicable mutual fund company, 529 plan provider or insurance company provider of the investment if you have any questions or servicing needs.
• In all cases, you remain the owner of record on your fund/provider-direct mutual fund, 529 plan, annuity account or variable universal life policy and you will continue to receive statements directly from the mutual fund company, 529 plan provider or insurance company that holds your account(s).
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Note: Access expires August 20, 2022
Securities brokerage services are offered through BBVA Securities Inc, member FINRA and SIPC and an affiliate of Banco Bilbao Vizcaya Argentaria, S.A., a Spanish bank. Securities involve investment risks, including fluctuations in or loss of investment principal. BBVA Securities Inc. and its affiliates do not provide tax, accounting or legal advice.
| Securities: | |
| ARE NOT DEPOSITS | ARE NOT FDIC INSURED |
| ARE NOT BANK GUARANTEED | MAY LOSE VALUE |
| ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | |