SIPC
SIPP INDUSTRIES INC NEW
stock OTC

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as a BBBYQ holder myself, I still don’t think everything in the post is absolutely correct. Those shares are long gone and any rights with them, but would I be happy to be proven wrong? sure.
I’m not saying everything in the post is factual, but the implications of SIPC and FINRA regulations alone are a BIG step. I will now patiently wait for more substantial evidence to materialize.

The only time a $500k+ balance is at risk under SIPC is if the brokerage engaged in systemic, massive fraud—meaning they cooked the books, never actually bought the shares you ordered, and the assets are entirely missing (similar to the Bernie Madoff collapse). M1 is my favorite brokerage platform out there and I have zero concerns.

My M1 account crossed 500k few weeks ago and I’ve been wondering if it’s safe for me to keep investing with them or should I open a new taxable account with a different brokerage elsewhere since SIPC only cover up to 500k? Anyone have similar experience?

A HYSA is offered through a bank.
At Fidelity you would open a brokerage account and anything deposited goes into a default core/cash position which is a money market mutual fund.
SPAXX- Fidelity® Government Money Market Fund is usually the default fund and is currently yielding 3.27% and that changes based on the performance of short term interest rates.
It accrues daily and the interest/dividends post monthly just like a bank account. It is not FDIC insured but is considered extremely safe and is covered under SIPC insurance in the unlikely event of something happened with Fidelity.

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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*

> A capstone student did not invent this from scratch. A student does not draft SIPC and FINRA footers. A student does not model a portfolio dashboard with Sharpe ratios and asset allocation. A student does not pick market hours. Those come from a product spec. The spec came from GameStop.
These people are genuinely ill.

they can't just put "Securities offered through licensed broker-dealers SIPC MemberRegulated by FINRA" on a mock website that would be illegal.

I'm not sure myself but according to Fidelity:
>SIPC will cover up to $500,000 in securities, including a $250,000 limit for cash, in each qualifying account if your SIPC-member brokerage firm has financial troubles.

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Do not post the same message in a short time frame or comments that are unrelated to the discussion. We review every post and comment on this sub, so it may take a moment for us to reply. Duplicate posts will be removed.
*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*

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 was removed for violating rule #10: **keep posts within the scope of customer care, market news, or general investing discussion**.
The focus of this community is investing education and Fidelity customer care, including discussions about money movement, transfers, and trading. This sub is not intended to address inquiries that go beyond the scope of normal service.
Please consider if your question is one you’d ask to a Fidelity support representative. Off-topic posts may be removed.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

This has been removed for violating rule #5: **no spamming**.
Do not post the same message in a short time frame or comments that are unrelated to the discussion. We review every post and comment on this sub, so it may take a moment for us to reply. Duplicate posts will be removed.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*