SIPC
SIPP INDUSTRIES INC NEW
stock OTC

Already have their gold card and an active Roth IRA and Brokerage account (both minimal $). However looking to consolidate my main investment accounts.
Taking the Robinhood transfer bonuses would net 20-30K more vs bonuses from consolidating under BOA/Merrill). But what if something goes wrong? A 5 year clawback makes me hesitant if something goes awry. Buy and hold type of investor FWIW
So 2 questions for those who are knowledgeable about these things?
1. They are SIPC Insured sure with additional umbrella coverage…but what is a realistic worst case scenario. Something like a SVB debacle?
2. Assuming the gold card benefits eventually get nerfed, what another negative surprises could potentially come down the pipeline?
TIA!

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I'm looking to get away from Schwab because the glitches are so horrific. I sold a lot of 100 shares from a day trade (I chose the newest lot) but it sold the oldest lot causing a much diff cap gain. I call and even though the proof is there that I chose the new lot they're saying it's too late to change it. The advice was check the day after you trade and call us. So, your trading platform fails to sell the correct lots but it's on me to police you and make calls to you daily?
As to being protected in a downturn
Brokerage accounts are generally not protected by the Federal Deposit Insurance Corporation (FDIC), which instead insures traditional bank deposits like checking and savings accounts.
Instead, brokerage houses are protected by the Securities Investor Protection Corporation (SIPC), which safeguards cash and securities if a brokerage firm goes bankrupt.
Find out what the limits are
My advice to you is sell some stocks and stick some money in CD's cause there is a downturn coming. The current occupant in the wh doesn't know or care what happens to you, your money or anything else. He's got billions so he's ok either way, having the time of his life

The comparison was made about paying a house off early or not. I agree that renting is underrated for other financial reasons (fixed monthly costs without any 10K+ AC fixes, etc) and you can also plan around work where you can move near work and keep your commute low (while still having flexibility to move near a new job). You can break most renter leases without penalty if you're moving far enough away, too. So, you can jump at a high paying opportunity "on a whim" where a large physical asset that takes months to offload and comes with inspections might slow down your reaction.
That being said, when comparing the prospects of paying a house off early, if your goal is to maximize wealth, it can be a losing move to pay off a low interest loan when the market is doing so good. Last I checked, the inflation adjusted return of the S&P 500 is 10.1% over the last years (like a decade) and it's something like 8.1% inflation-adjusted annual return over its lifetime (including the great depression).
So, max paying a 2% loan to become debt free faster is sacrificing roughly 6-8% annual returns, if you had chosen to min-pay the loan and dump the excess into investments. The only pain point there is the future of the market is not guaranteed where future interest on a loan is guaranteed. So, if the market starts to shit hard for a year or two, those years or two might justify higher loan payments.
ANyway, that's the math and why a financially minded person would regret early repayment of such a low interest loan. If they understood basic math, then they wouldn't have max-payed it and it doesn't really matter about all the other investment options (e.g. not owning a home). Your angle of convo is openeing up too many things to compare.
Personally, I'd argue that generally home ownership is not the path to wealth. That very wealthy people purchase real estate for different reasons than us normies and that us normies are somewhat convinced of thinking like the richies. That a home purchase is rarely a "GREAT" investment. It offers autonomy in your home (e.g. you can paint the walls), but if you took your down payment on a house back in 2019 and invested in Nvidia stock instead, you'd buy your whole current house in cash. Stocks can be a GREAT investment. "Nobody" is 10x the valuation of their home in less than 10 years. Homes mostly improve in value and grow in a mostly stable fashion. Land is finite, etc. The wealthy buy land because, when you're rich as fuck you're not trying to double your money, you're really just wanting to stay with and beat inflation. Plus, once you get a couple million buckeroos, the next problem you have is protecting it from being stolen. Most investment accounts have insurance caps (e.g. FDIC, SIPC, etc). So, purchasing a physical asset ties your money into it and puts it under different insurances as well. SO, if you have 40 million bucks, it'd be hard to insure it all in a single investment account.
Anyway, while being debt free is a great goal, it might be foolish to exist a low interest loan early when you can rather invest that money. Thanks for coming to my shitty up ted talk.

This has been removed for violating rule #2: **limit discussion of securities and investments**.
Thanks for your post seeking investment advice or discussing specific securities. Please keep all conversations about portfolios and specific investments in our monthly discussion post.
Fellow Redditors may offer an opinion on investments. Fidelity doesn’t endorse any of the expressions, opinions, or content posted by non-Fidelity members or any third parties on  r/fidelityinvestments. Do not rely on comments to form the basis of an investment decision.
Always make sure to do your due diligence before investing. Remember to look for the “Community Care Representative” flair to make sure it’s us.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

This has been removed for violating rule #2: **limit discussion of securities and investments**.
Thanks for your post seeking investment advice or discussing specific securities. Please keep all conversations about portfolios and specific investments in our monthly discussion post.
Fellow Redditors may offer an opinion on investments. Fidelity doesn’t endorse any of the expressions, opinions, or content posted by non-Fidelity members or any third parties on  r/fidelityinvestments. Do not rely on comments to form the basis of an investment decision.
Always make sure to do your due diligence before investing. Remember to look for the “Community Care Representative” flair to make sure it’s us.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*