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Is cash in charles schwab protected under FDIC or anything similar?#svb #personalfinance #investments
Cash in brokerage accounts is not protected?
Sipc. 250k cash and 500k equity
Brokerage accounts are insured by SIPC.
Protected by SIPC. Doesnโt protect investment risk but does cover in case a brokerage implodes.
So if brokerage is limited to 500k - does it mean in case of insolvency- you will get atleast what you have in your brokerage account limited to 500k?
No unless you converted into a banking product with FDIC insurance