Your clients are protected in many ways:
1) Securities Investor Protection Corporation (SIPC)
SIPC Protection currently covers up to $500,000 per account (of which $250,000 may be in cash). All client accounts that are similarly titled are combined for purposes of determining SIPC protection. Union Capital Company is an SIPC member.
2) Excess SIPC protection
Our clearing firm’s parent RBC Clearing & Custody has purchased a Lloyd’s of London supplemental policy that provides coverage in excess of that offered by SIPC. The Lloyd’s policy, combined with SIPC protection, provides total coverage of $100,000,000 per account ($1,150,000 of which may be in cash).