SIPC
SIPP INDUSTRIES INC NEW
stock OTC

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As long as you don't have margin, your assets are usually insured above and beyond SIPC coverage.

I would trust all firms for up to the SIPC $500,000 limit under each type of title registration. Anything over that, if they have problems, do you think they would actually still be paying the premiums?

Although many banks failed during 2008 no depositors lost money. FDIC/SIPC insurance kicked in and deposits were moved to other institutions. Shareholders in some of these institutions lost and many folks who were under water on montages but not depositors which I assume you are. You can move it all to Schwab but keep a local account open with whatever makes you feel comfortable to cover your expenses.

You can go to Schwab's website and see that they have SIPC coverage as well as a separate policy for over limits. They are very transparent about your money being safe there and what they do as a brokerage to keep it that way.

If a brokerage firm fails like Lehman or Bear did the clients (who are not using margin) are generally going to get all of their holdings simply moved to the acquiring firm. You own the holdings (again without margin) Schwab is your custodian and if your custodian was not committing fraud which I’ll get to in a second then you still own everything you did prior. Cash in a sweep is a little different but even purchased money market positions maintain this ownership structure and thus safety.
If there’s a case of fraud. Schwab told you that you owned 100 shares of Apple but they actually just told you that and there are no shares that is where SIPC brokerage insurance takes over in a similar manner to say FDIC coverage. Since Schwab is reputable and audited they can and do maintain a private insurance policy that would in most cases cover 99% of their clients (levels of coverage up to $100mm per client)
Between the ownership/custodian nature of your holdings and the protection from fraud it is entirely safe and perhaps even recommended to maintain your assets at a single custodian.
If you are on margin and thus borrowing heavily from Schwab that does change this question in potentially large ways but the likelihood and size of borrowing that would be necessary are beyond the scope of this question.

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Yes there is. Look up SIPC.

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People will talk all day about SIPC Insurance up to $500k for a single brokerage account, but it really does not matter.
At high seven figures you can structure a little, you have other options. But just holding SGOV and SCHB would be more than fine.

Schwab is insured by Lloyd's of London, to provide coverage beyond the SIPC insurance, ip to $150M/customer, limit of $1.15M in cash. The info is on their website. Made me feel more secure in using them for accounts above the SIPC insurance level.

If Schwab totally fails where customers are losing money with SIPC unable to assist, we're all in trouble.

Schwab and most brokerage also carry excess SIPC insurance

SIPC coverage is only 500 K per account. That being said, Schwab is one of the big retail brokerages and has solid credit ratings of A-/A2. If worried, split up your investment with a few retail brokerages.

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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](https://www.reddit.com/r/fidelityinvestments/comments/1w5b7er/monthly_investing_discussion_thread_investing/).
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.
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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](https://www.reddit.com/r/fidelityinvestments/comments/1w5b7er/monthly_investing_discussion_thread_investing/).
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.
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some of ya'll and your hatred for fintech is... absurd. you do know fintech ≠ neobank, right? and that most reputable online brokerages are SIPC insured?