What Happens If My Stock Broker Goes Bankrupt? - Is My Money Safe?

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What happens to our money if our stock brokerage goes bankrupt? Bank failures have shaken confidence in the financial system. So if Vanguard, Fidelity, Charles Schwab or even M1 Finance and Robinhood were to collapse. What would happen? In this video we'll discuss what SIPC insurance is, what SIPC covers, and what other protections investors have against a brokerage firm collapse.
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Опубликовано:

1 июл 2024

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Комментарии : 29

@JayFairbrother Год назад

I'm launching a newsletter to talk about finance, investing and other random things I think we'll all find interesting... without having to please an algorithm. I'd be thrilled if you'd join me! jayfairbrother.beehiiv.com/subscribe

@tvlookplay Год назад

Thank you sir

@kenjohnson2357 Год назад

Great video, glad to know I have some insurance on my money. Thanks for explaining what would happen. I feel much better knowing this information. Keep up the great work 👍🏾

@JayFairbrother Год назад

Thanks Ken! I appreciate you watching!

@yungmi1214 Год назад

Beautiful, well said Jay. Love today video.

@JayFairbrother Год назад

Thank you, I appreciate you watching!

@TheAndrewLopezFinancePodcast Год назад

Hold my beer, going all in on physical gold and Bitcoin

@JayFairbrother Год назад

Mmmmmmmm….beer

@KodyKaz Год назад

Nice video

@rafaelzamudio217 Год назад

Just found you. Love your content Jay. Suscribing. And hope T-Swift returns your calls

@JayFairbrother Год назад

Welcome! I was wondering if anyone would notice that part 😂😂

@pppco8488 26 дней назад

What if JPM itself fails, what happens to my VTI that I bought through fidelity account?

@TheGreatWasian_ Год назад

This video helped me to commit to keeping all of my investments under M1 Finance. M1 is definitely one of the little guys when compared to the huge firms but I just love how simple M1 makes investing. Now I can feel more safe about pooling more money into them. Thank you so much Jay!👍

@mxweng 7 месяцев назад

What if your stock broker sells your stocks/ETFs and transfers money to another place like FTX?

@Santiago-in1xf Год назад

If they replace as cash, does the SIPC count as a taxable event?

@JayFairbrother Год назад

That’s a good question, I honestly don’t know. But I think taxes would be the last thing I’d be worrying about in this situation!

@pppco8488 26 дней назад

👍

@chessdad182 Год назад

Oh Oh. Well I guess then it will be a much shorter retirement than planned. LOL.

@djryan8944 Год назад

Are you sure SIPC covers ETFs like VTI or VOO? I can’t get a solid answer anywhere.

@JayFairbrother Год назад

Yes, SIPC covers all investments except for crypto, commodities, futures contracts and a few other non-standard types of investments

@djryan8944 Год назад

@@JayFairbrother thanks cause I started using Robinhood who I don’t trust but their App is just so much easier. I have other accounts but for easy day to day Robinhood better.