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Assume that you just finished a degree in finance and are working for a small wealth management firm while studying to become a Certified Financial

Assume that you just finished a degree in finance and are working for a small wealth management firm while studying to become a Certified Financial Planner (CFP). One of the tasks that you help with is the management of client investment funds, some of which are held at your institution, at banks, and at brokerage firms. Just recently, one of the brokerage firms for one of your clients has filed for bankruptcy. What is the likely outcome for your client?

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