Step #5:
Stop worrying about your brokerage account

If you are a Merrill Lynch client, your account and your broker will still be there, as will the name Merrill Lynch. Bank of America is acquiring all of the accounts and most of the brokers. Don't be surprised, however, if your broker changes firms over the next few months. Brokers with big accounts are already being courted by other firms. (We'll post an article soon that will help you decide if you should follow your broker.)

If you’re with another brokerage firm, make sure that your investing dollars are properly covered by SIPC.  Find out what the SIPC limits are, how to tell if your brokerage is covered under SIPC and learn what steps to take if your brokerage goes under in What to Do If Your Broker Fails.

Next: Bankrupt doesn't mean "out of business"