All my investments are in fidelity, ~2.5m. Should I be worried of fidelity going bankrupt? So many people here have high net worth. How do you manage?#personalfinance #investments
Just split it across TDA, E*TRADE and Fidelity. It’s also a very easy process to transfer. However, Fidelity is probably the safest brokerage.
Got it. Thanks for your suggestions
Is fidelity going bankrupt?
Not that I’m aware of, but how else can OP humbly brag about his 2.5MM?
Haha not a brag, but concerned about it. Using fidelity due to employer, and never thought of transferring.
What about meryl lynch, Schwab?
Random question
Jesus, Take some $$ out and Diversify . You know what happened to accounts holders of Lehman Brothers and Bear Stearns in 2008 right? All their money disappeared right under their eyes. One can never be too careful with these greedy banks.
oh my
Yes that’s the fear
You wealth is locked up in the investments that you own. If Fidelity goes bankrupt you still own the assets.
What do you mean? If fidelity goes bankrupt, how can I recover my investments?
On the surface , a bankruptcy is a legal process so the courts will appoint someone that will make sure everyone is made whole to the extent possible
You have less assets than I thought you would at your age
Why are you wasting your time here if you don’t have anything to contribute?
I can’t tell if this is a serious question or not lol
Serious
People with NW beyond one stake don’t ask that sort of questions.
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That’s not the point, if Fidelity goes under OP will have a nightmarish time for 12-24 months to recover his assets, he will recover them but it will take time.
fidelity is not robinhood