this post was submitted on 14 Oct 2024
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FIRE (Financial Independence Retire Early)
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One thing I never realized until this weekend was that the SIPC insurance your brokerage firm provides is not just by account owner. Each "separate capacity" is protected up to $500,000!
From the SIPC website:
The more you know! Hope that knowledge wasn't super obvious to everyone but me and helps someone!
A bit less fun fact, SIPC is generally not automatic, you need to file, whereas FDIC is automatic. That said, most brokerages will do everything they can to make you whole w/o going through SIPC, so it probably doesn't matter in practice unless there's a severe issue involving both the brokerage and the funds you're invested in.