SIPC
SIPP INDUSTRIES INC NEW
stock OTC

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 #4: **do not use profanity**.
Remember that this is a community that's focused on investing education and Fidelity customer care. Please do not use profanity or obscene language.
If you remove the instance of profanity and let us know. We will re-approve, or you can repost it.
*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*

Yes diversify using different brokerages. SIPC coverage is important as if one broker dealer goes bankrupt your coverage is up to that point. Ask about additional SIPC coverage which many larger broker dealers offer.
What most people miss is how long it takes to recover those funds as your accounts are frozen until the bankruptcy trustee and SIPC are able to determine coverage for accounts. What many people fail to understand is liquidity and market risk during a failure. If you only have one account and are not able to trade or access those funds there’s a major risk you are unnecessarily taking. Look at MF global as a prime example where many clients including farmers had no access to their accounts or were able to trade out of their positions which resulted in massive market losses for them. The headlines never cover this.
The SIPC website documents this and says that by 2016 MF Global accounts were made 100% whole but that’s 5 years after the bankruptcy. The priority to be made whole are the ones that are covered and then accounts above that coverage.
Your risk tolerance can determine how much you’re willing to risk but for a small inconvenience of having multiple accounts at different firms it’s an easy risk mitigation. Lastly, outages and cyberattacks happen. You never want to be unable to trade or withdraw funds.

Welcome to the sub, u/Ecstatic-UF-Engineer.
The Securities Investor Protection Corporation (SIPC) is a nonprofit organization that protects stocks, bonds, and other securities in case a brokerage firm goes bankrupt and assets are missing. SIPC is not a governmental agency and does not cover investment losses due to market fluctuation. The SIPC will cover up to $500,000 in securities, including a $250,000 limit for cash held in a brokerage account. If you have multiple brokerage accounts, each account will receive these coverages separately.
In addition to SIPC protection, Fidelity provides its brokerage customers with additional "excess of SIPC" coverage through Lloyd’s of London. The excess coverage would only be used when SIPC coverage is exhausted. SIPC coverage protects assets held in brokerage accounts, including stocks, bonds, mutual funds, and money market funds. Total aggregate excess of SIPC coverage available through Fidelity's excess of SIPC policy is $1 billion. Within Fidelity's excess of SIPC coverage, there is no per customer dollar limit on coverage of securities, but there is a per-customer limit of $1.9 million on coverage of cash awaiting investment. This is the maximum excess of SIPC protection currently available in the brokerage industry. Like SIPC, excess protection does not cover investment losses in customer accounts, including losses due to market fluctuation.
You can learn more about the coverage available to you by clicking the link below.
[Safeguarding Your Accounts](https://www.fidelity.com/why-fidelity/safeguarding-your-accounts)
Thanks for joining our community, and feel free to reach out if you have any other questions.

How so? I told you you have $1b in coverage and someone else linked directly to the SIPC so you can read and learn. What more do you need?

They use SIPC, you can read it yourself instead of trusting internet strangers https://www.sipc.org/

This has been removed for violating rule #8: **no taboo topics**.
In the interest of keeping things civil and allowing us to focus on providing customer care, we ask that you seek out alternative subreddits for engaging in topics regarding politics, race, religion, violence, drug use, and sexual themes.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

What about having multiple accounts under same person? Does SIPC cover each account $500K?

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*

That situation is not where SIPC would come into play. SIPC is only at play when your brokerage firm goes insolvent AND they lost record of you ever owning shares. Fraud could be a factor in the firm going insolvent (looking at you, Bernie Madoff). I. The CAs you presented, where someone fraudulently depletes your account, that’s where a firms own internal polices would kick in. In the case of Schwab, they have their security guarantee.

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 #1: **do not post personally identifiable information (PII)**.
To protect our customers, we prohibit the posting of any private or confidential information, whether it’s yours or another individual’s. This includes names, account numbers, Social Security numbers, email addresses, phone numbers, or any other information considered PII.
Reposting the contents of information shared via private messages (PMs), modmail, and private subreddit chat is also prohibited.
Please make sure any posts (especially screenshots) don’t include visible PII before posting.
*Fidelity Brokerage Services LLC, Member NYSE, SIPC*

>The shares belong to you, not to Schwab
Yes and no. A client is the rightful owner of the shares they hold in a brokerage account. But the brokerage is the actual custodian of the shares, registering and holding them on your behalf.
I think the best comparison to make with brokerage is the transfer agent. If you buy shares via the transfer agent, you hold the stock directly, there is no intermediary. A common term they use is "direct registration", meaning the shares are registered in your name.
The risk with brokerages isn't that they will go out of business (legitimately), it's fraud. Suppose your account gets hacked and everything is liquidated to cash and then transfered to an external account that is later emptied. This is where SIPC coverage would come into play.

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 #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 violation rule #9: **no solicitation, promotions, or third-party content**.
Don’t make posts soliciting or promoting opportunities to members of the community for personal benefit or otherwise. Do not copy/paste copyrighted content from third-party sources into your posts or share anything that infringes on intellectual property rights. All links will be evaluated for relevancy to the post topic.
*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 #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*