/ Ask Terry Questions / Retirement asset protection.

Retirement asset protection.

By Terry Savage on February 21, 2021 | Investments

Is it safe to stay with one brokerage firm?

Terry Says

Nothing guarantees you against losses from bad investment decisions! That’s the first thing to know.
But all major brokerage firms protect your account up to $500,000 in case the firm defaults. If you are over that amount (check tomake sure your firm is SIPC insured), then I would definitely divide my account in two places.

And you might also want o ask how much you paid in fees and commissions and “maintenance charges” last year. Brokerage firms have some of the highest costs!



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