Stake (Stakeshop Pty Ltd, ACN: 610105505, AFS Representative Number: 001241398) has been appointed as a Corporate Authorised Representative of Sanlam Private Wealth (AFSL no 337927) that enables Stake to provide general financial product advice in relation to securities to retail clients.
DriveWealth, LLC is a US broker-dealer registered with FINRA (US regulator) and is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.
ETC (Electronic Transaction Clearing) is the ultimate custodian (DriveWealth is sub-custodian), where shares are held on a books and records basis (vs the CHESS/HIN system here in Oz). These are listed equities only, execution is via the US exchanges, routed through NBBO (National Best Bid and Offer) when required. 1 full share gives you voting right and fractional component gives you full economic interest as per the books and records at the custodian.