I don't know how true that statement is....My Schawb account shows that I have 100K in PRDs, and after many long and drawn out covecations and many e-mails to them to figure this all out Schawb tells me (and has tol;d me several times) that the BKMP PFDs showing in my account are real and valid, not that they are worth anything because they show only as number of shares and a ref number...But according to Schawb they are real.....LOL