For those with more than $500k in a brokerage account, are you worried about the risk of a brokerage firm going under for any reason? SIPC (similar to FDIC for banks) provides up to $500k in account recovery - if you have more than that amount, do you typically hold your assets across multiple brokerages? Any best practices here?
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The SPIC membership has a cap per firm and the cap would cover about 0.02% of Fidelity client assets. Good luck getting your money back if this was tied to assets. This is usually for fraud and missing securities.