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Anyone else have more than one account to avoid the concern ?

Not I.

The insurance coverage for cash in your brokerage account is the same as banks - $250k IIRC.

The securities in the account have a higher level of coverage through the SIPC. IIRC, that figure is $2.5 million.

The issue would be if you have, say, $1 million in the account. Normally, you're fully invested, so you have only small amounts of cash in the account. But then you decide that it's time to sell the securities and go to all cash. While you were fully invested, you were fully insured. But if you sell off, you might exceed the limit of insurance on cash in the account.

I don't know if using some kind of money market fund instead of cash would impact this. Hopefully someone smarter about insurance coverage can fill in the blanks.

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