The CIPF is an insurance fund for investors, operated by the IDA for its members. Basically, in the event that an IDA firm goes under, its clients' accounts are insured for up to a million dollars for loss due to the firm's winding up of affairs. This doesn't cover loss due to market fluctuations, and hopefully most client assets are segregated anyhow, but it adds an extra layer of safety to doing business at an IDA firm.