The Wherewithal Blog

Practical investing and personal financial advice

 

What is SIPC Insurance?

Posted by admin on February 13, 2013

SIPC, the Securities Investor Protection Corporation, protects investors against losses stemming from a financial failure of a member broker-dealer.

Folio Institutional, your custodian, is a member of the SIPC.  Your assets are covered up to $500,000 in value, including $100,000 on claims for cash. For additional security, Folio also provides coverage in excess of SIPC limits. In addition, all cash deposits are FDIC insured up to $4.5 million for individual accounts and $9 million for joint accounts.  Neither SIPC nor FDIC insurance protect against losses resulting from a decline in the market value of securities.

A brochure explaining the coverage provided by SIPC is available on its website at www.sipc.org.  You may also visit Folioclient.com to learn more about the specific coverage.

Posted by admin

In Support, Security

on February 13, 2013