Got SIPC?
Is you broker a member of SIPC (Securities Investor Protection Corporation)? It's bad enough that stock prices are trending down these days. But as long as the companies you've invested in remain solvent there is hope they will recover and move ahead, bringing stock values back up. But, while you patiently wait for better days, what if your broker goes out of business! :-0 Then the above question can matter a great deal.
The SIPC cannot protect you from falling stock prices or bankruptcy of the corporations you have invested in (investing is inherently a risk venture), but if the company you invest through closes its doors, and its web site, there is hope that in a reasonable time the cash and securities in your account will be returned. This is where the SIPC steps in.
To facilitate that process, you will need to know just what you have invested. Be sure to keep periodic statements on file. If you do your trading on-line, be sure to print copies of your statement. Should your broker go out of business, your access to on-line records is likely to disappear. And of course, first and foremost, find out if your broker is a member of SIPC and that your account is covered. It offers at least one measure of protection in unsettling times.
Pressly
The SIPC cannot protect you from falling stock prices or bankruptcy of the corporations you have invested in (investing is inherently a risk venture), but if the company you invest through closes its doors, and its web site, there is hope that in a reasonable time the cash and securities in your account will be returned. This is where the SIPC steps in.
To facilitate that process, you will need to know just what you have invested. Be sure to keep periodic statements on file. If you do your trading on-line, be sure to print copies of your statement. Should your broker go out of business, your access to on-line records is likely to disappear. And of course, first and foremost, find out if your broker is a member of SIPC and that your account is covered. It offers at least one measure of protection in unsettling times.
Pressly
