Am I protected if the investment provider or my adviser goes out of business?

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7 months 1 week ago #2555 by Tisha5528
Am I protected if the investment provider or my adviser goes out of business?

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4 months 1 day ago #2586 by Doladiti
If your investment provider or adviser goes out of business, you may be protected by the Securities Investor Protection Corporation (SIPC). SIPC is a nonprofit organization that helps investors recover their securities and cash if their broker-dealer fails. However, there are some important things to keep in mind. First, SIPC only protects you if your investment provider goes out of business due to financial failure. If they go out of business for other reasons, you may not be covered. Second, SIPC only protects cash and securities that were held by your investment provider. Any other investments, such as real estate or commodities, may not be covered. Third, there are limits to the amount of coverage that SIPC provides. For cash, the maximum coverage is $250,000. For securities, the maximum coverage is $500,000, including up to $250,000 in cash. It's important to understand the limits of SIPC protection and what it does and does not cover. If you have questions, you can contact SIPC directly or speak with a financial professional.

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4 months 22 hours ago #2594 by gagoo
Your money remains in place, and if you choose to leave the team, you can just transfer your money to another advisor. So, in short: you won't lose your money and can decide on what to do next with your portfolio.

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4 months 8 hours ago #2612 by gagoo
The failure of a firm might understandably cause some anxiety for its customers. However, should your firm cease operations, don't panic: In virtually all cases, customer assets are safe and typically are transferred in an orderly fashion to another registered brokerage firm.

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4 months 7 hours ago #2614 by mrbt33
It depends on factors such as the regulatory framework in your jurisdiction and the type of investments you have.

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