- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Brokerage Risk / Diversification
Posted on 9/19/23 at 4:53 pm
Posted on 9/19/23 at 4:53 pm
How many of you diversify brokerages? I'm mainly concerned with taxable accounts where value exceeds $500K SIPC insurance.
2
Posted on 9/19/23 at 6:11 pm to lynxcat
For all practical reasons, it’s useless for the major firms usually discussed here.
The fund has less than $5B in it - most firms people talk about here have over $1T in assets.
If Fidelity, Vanguard, Schwab, or even board hated Edward Jones failed, that $5B would be peanuts.
The fund has less than $5B in it - most firms people talk about here have over $1T in assets.
If Fidelity, Vanguard, Schwab, or even board hated Edward Jones failed, that $5B would be peanuts.
Posted on 9/19/23 at 6:19 pm to lynxcat
Can’t hurt right? I’d imagine if big name brokerages start dropping you’ve probably got nothing left anyway though
Posted on 9/19/23 at 7:46 pm to rocksteady
don't some of the big brokerages claim they offer more than SIPC insurance typically does thru some kind of accounting tricks?
ETA - LINK
ETA - LINK
This post was edited on 9/19/23 at 7:49 pm
Posted on 9/19/23 at 8:07 pm to Stateguy
Yeah some are covered by private insurance company policies, but again, it’s practically useless.
SIPC and other assurances are not much more than a marketing tool.
SIPC and other assurances are not much more than a marketing tool.
Posted on 9/19/23 at 8:22 pm to slackster
quote:
SIPC and other assurances are not much more than a marketing tool.
My bias is to roll with one of the big names for simplicity. Thanks!
Posted on 9/21/23 at 5:24 am to lynxcat
For taxable mutual funds/ETFs, I only use 1 brokerage just for ease of management. Since I only withdraw from this account when I need to make a large purchase like a car or a house, no need to over complicate things. I don't want to have to pay too much attention to it since it's not for short term investing. I have other accounts for stocks/crypto/options.
For retirement I use 2, I have my Roth and my SEP in Capital Group (American Funds) and my 401K with Fidelity.
To be honest I don't even consider the SIPC for any of them because if a large mutual fund goes broke, we all have much bigger problems.
For retirement I use 2, I have my Roth and my SEP in Capital Group (American Funds) and my 401K with Fidelity.
To be honest I don't even consider the SIPC for any of them because if a large mutual fund goes broke, we all have much bigger problems.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News