Good afternoon forum, My name is Alex, I'm new here and to the investing world in general and would highly appreciate some input. I've been investing with Interactive Brokers (IB) over the past several years, mainly into the S&P500 ETF's and now have an opportunity to invest quite a large sum of money. I've sold my business for close to $4M and would like to invest most of these funds into the stock market. I really like IB's platform, low fees, and low margins rates so I'm leaning towards transferring all of my funds into my IB account. However, would it be advisable to split these funds (perhaps 1/3 into IB, 1/3 into Vanguard, and 1/3 into T/D)? Reason being - I'm quite apprehensive about having all my funds in one brokerage firm.. putting "all eggs in one basket" so to speak. As I understand, SIPC insures brokerage accounts for $500k in case of fraud/bankruptcy/fund mismanagement, etc. So looking at a worst case scenario - if IB goes bankrupt (I do realize it is very unlikely), I would potential only recover a small portion of my assets. Would an experienced investor spread these funds out among several brokers or am I just being paranoid here?