Hi guys,I'm convinced SWF is safe for trading ASX, but can...

Hi guys,
I'm convinced SWF is safe for trading ASX, but can anyone explain a little more about their US trading process please? On their website it says
"You are the beneficial owner of any US holdings with SelfWealth which will be held in custody with Phillip Securities Pte Ltd. Your cash will be held in a Phillip Capital Trust account with Standard Chartered. SelfWealth has no beneficial ownership or right to either your holdings or cash."

The "beneficial owner" seems to be okay, the Phillip Capital is a long history oversea trust, looks SWF is just an agent, so any issue could affect the US stock ownership and SWF's stock performace?