Most financial advisors have professional liability policies, which exclude criminal acts by the advisor. SPIC coverage provides a limit of up to $500,000 for securities, including $250,000 for cash held in a brokerage account, but only when the asset management firm goes bankrupt and customers assets are missing. Larger investments firm may have some form of crime insurance, but its likely one would incur a very long delay in payment at a reduced settlement amount with unknown legal expenses.