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Subject:  Re: Bank/broker Date:  1/19/2000  9:39 AM
Author:  TMFPixy Number:  1640 of 20791

Greetings, JWinthrop, and welcome. You wrote:

<<There seems to be all kinds of them-Telebank was just bought by etrade- but what I havn't found yet is a bank that handles SDIRAs packaged with a discount broker- The objective would be to get FDIC insurance on the cash balance in the account. Anyone?? >>

And you almost certainly won't ever find such an arrangement, either. The FDIC was created to protect and restore confidence in the banking industry through the insurance of bank accounts. Brokerage accounts are a different animal entirely. Even if a bank has a relationship with a broker, the money used for investments made through that broker would not be insured by the FDIC.

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