No, Bob doesn’t handle any funds. When your bank account is linked, it is connected to your brokerage account with Tradier, our broker-dealer. Bob, as the Robo-Advisor, uses the funds to execute buying stocks, but does not have the ability to withdraw or deposit money in your linked account.

Yes, your funds are secured by Tradier’s insurance as the broker-dealer. Tradier is insured by SPIC (Securities Investor Protection Corporation). SIPC provides limited coverage to investors on their brokerage accounts if their brokerage firm is unable to pay debts. It protects against the loss of cash and securities – such as stocks and bonds – held by a customer, like you, at a financially-troubled SIPC-member brokerage firm. The limit of SIPC protection is $500,000, which includes a $250,000 limit for cash.