What brokerages do billionaires use ?
and what happens if it fails and cannot pay them.
and what happens if it fails and cannot pay them.
The Old Guy
Favorite Answer
Millionaires, billionaires use several brokerage firms, not one firm is the brokerage firms to the rich.
Most large accounts are cleared through banks and/or other financial institutions, so the money is either up front or paid on settlement day.
Large accounts that are carried by brokerage firms usually have more than sufficient assets in the account to cover any and all purchases.
Large account very seldom, if at all, fail to make payment. Most of the problem accounts held by brokerage firms are the penny stock investor who should no be in the markets.
This response is bad on 45 years in brokerage management & regulatory compliance.