Read through the SVB news, just learned that FDIC only protects up to $250k cash for you in each bank. So just a naive thinking: is there any sort-of aggregation service existing to help automatically spread your $10M fat wallet into 40 banks, and auto-withdraw if you need more than $250k.<p>I don't think super-rich will need this though.
Yep, this exists. Look for IntraFI or MaxSafe.<p>In more detail in this article: <a href="https://www.nerdwallet.com/article/banking/how-to-insure-your-money-when-youre-banking-over-250k" rel="nofollow">https://www.nerdwallet.com/article/banking/how-to-insure-you...</a>
Besides what nvader mentioned, a government money market fund from a big managers such as Vanguard or Fidelity should be safe. You can also buy Treasury bills and bonds directly from the government through TreasuryDirect.
Back when Merrill Lynch was a full-service broker and CDs paid enough interest that you'd care, your broker could look up CDs offered by various banks and also a secondary market of CDs that people wanted to sell and you could invest money FDIC insured that way.