SIPC
SIPP INDUSTRIES INC NEW
stockOTC

> I'm thinking of opening accounts on a second platform. there's no point to doing that at the volumes you're talking about. the main point of doing this is 1. to get around the SIPC insurance limits of 500k/account per bank 2. to have some access to an account if one is having server issues.

True it isn't FDIC insured because it's a MMF rather than a bank deposit but it does have SIPC coverage. If that isn't sufficient, then I've got bigger financial problems lol.

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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*

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*

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If your money market account blows up (e.g. a crisis in short term funding market) you can forget about all of your other investments. Besides even during the GFG money markets fared fine. Inflation risk is there of course but that’s the trade off for liquidity). You can also talk about counterparty risk if the brokerage blows up but SIPC insurance should cover that.

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