Subject: Re: So, a question
I don't think Schwab, Fidelity or Vanguard can "fail" like a bank can...

The brokerage part of Schwab, probably not. But the BANK part? It certainly could, and for much the same reason that regional banks face challenges: when yields on CDs and Treasuries were near zero, many folks didn't much care whether they had funds lying around in the bank paying next to nothing in interest. But now that you can get 5% or so interest on CDs and even Money Market accounts, lots of $$ has flowed out of Schwab Bank and into Schwab brokerage accounts. I know mine has.