Cash and sweep vehicle1/17/2024 ![]() ![]() However, there is a less well known in-house vehicle that pays you much better. It's a very beneficial system that I don't believe is publicized quite enough. That is why most of the cash sweep options for between-investment funds pay you very little. In my case, I transfer all of the money over, and then when I write a check or withdraw money, that amount is transferred out of the investment account to cover the check or withdraw. ![]() Like the article mentions, this can be the entire amount of an account or just a portion. See also Jonathan Roberts Advisory Group, Inc., Advisers Act Rel. ![]() The way it works is that you put money into your primary account, and the bank will automatically transfer the money into a different account where it will collect higher interest. I started a sweep account several years ago, and I was not familiar with the practice at that time. Through this process, funds are moved from a bank deposit account to an investment account or from an investment account to a deposit account. My guess is that with the advent of the internet, electronic deposits make this process almost cost-free. The Program is the core account investment vehicle option, referred to herein as the core account sweep option, which will be used to hold your cash. A cash sweep is an automatic bank process. Maybe most importantly, will I be charged anything for this service. For anyone who has had experience with this type of account, what should I look for from my bank? Are there certain questions I should ask about having the money transferred? I am looking to start a cash sweep account with my bank. Cash Sweep Vehicle refers to the automatic deposit of uninvested funds in an Account into either the Bank Deposit Sweep or an available money market mutual fund or such other sweep arrangements made available to you. ![]()
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |