[LocalPCGuy]

Same sentiment here - I feel like this is the largest challenge for people that would otherwise be ideal candidates. I wasn't even willing to move off one of the largest brokerages for the semi-recent Robinhood 3% "transfer deal" just because even there I felt like it was too much risk (granted, that was for a retirement account).

For someone that has quite a bit of my portfolio in very low cost index funds, something like $40k does seem like a relatively low "fee" for avoiding risk, especially considering it's spread over many years.

That said, I do like the idea, and hopefully there are enough folks willing to tolerate the risk to provide a viable alternative to the big status quo brokerages.