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  • March 17, 2008 at 3:35 PM #12147
    2Buy-or-Not2Buy
    Participant

    Regarding SIPC…I understand that if a brokerage fails my stocks, bonds, etc. will just be transferred to another institution. If the brokerage has raided accounts or if my securities and cash are not there because of some improper conduct on the part of the brokerage, SIPC will make me whole up to $500k.

    Does anyone know if the SIPC protection is $500k per brokerage account or per investor? In other words, if I have accounts at 2 brokerages that both fail, will SIPC make me whoe up to $500k at each one or just $500k total?

    March 17, 2008 at 4:15 PM #171897
    Deal Hunter
    Participant

    The SIPC protection is per investor, so your total investment in each brokerage is covered up to $500K. I think you have to beware of “when” the coverage kicks in. If a claim is made by you or your new broker on your behalf, the value of your assets on that same business day is what the protection is calculated on.

    March 17, 2008 at 4:15 PM #172231
    Deal Hunter
    Participant

    The SIPC protection is per investor, so your total investment in each brokerage is covered up to $500K. I think you have to beware of “when” the coverage kicks in. If a claim is made by you or your new broker on your behalf, the value of your assets on that same business day is what the protection is calculated on.

    March 17, 2008 at 4:15 PM #172234
    Deal Hunter
    Participant

    The SIPC protection is per investor, so your total investment in each brokerage is covered up to $500K. I think you have to beware of “when” the coverage kicks in. If a claim is made by you or your new broker on your behalf, the value of your assets on that same business day is what the protection is calculated on.

    March 17, 2008 at 4:15 PM #172254
    Deal Hunter
    Participant

    The SIPC protection is per investor, so your total investment in each brokerage is covered up to $500K. I think you have to beware of “when” the coverage kicks in. If a claim is made by you or your new broker on your behalf, the value of your assets on that same business day is what the protection is calculated on.

    March 17, 2008 at 4:15 PM #172334
    Deal Hunter
    Participant

    The SIPC protection is per investor, so your total investment in each brokerage is covered up to $500K. I think you have to beware of “when” the coverage kicks in. If a claim is made by you or your new broker on your behalf, the value of your assets on that same business day is what the protection is calculated on.

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