Fidelity Investments plans to change where independent financial advisors can store clients’ uninvested cash—a move that may hurt returns for investors. Beginning 2025, Fidelity intends to move client ...

As the subject of cash sweep money engulfs the broker-dealer and wirehouse industries, another high-profile B-D, Ameriprise Financial, has been sued in federal court by two people who said they were ...

After a tumultuous week for broker-dealers facing higher yields on client cash, one securities analyst on Friday said that higher interest rates on clients' cash held in advisory accounts may cost LPL ...

Cash sweep account options have long been a source of contention. These programs, used by major broker-dealers as a short holding place for client cash that is between investments, are often ...

Cash has been king ever since the Fed began hiking rates two years ago, but it’s getting a little harder lately for investors to earn a nice return off idle dollars. That’s not just because interest ...

NEW YORK, Aug 26 (Reuters) - JPMorgan Chase (JPM.N), opens new tab has been accused in a new lawsuit of sweeping customers' idle cash into accounts with "unreasonably" low interest rates. The proposed ...

You might not think about the idle cash in your brokerage account very often. But behind the scenes, your money may be earning your brokerage company a lot more interest than it is earning you. Cash ...

Some of Wall Street's biggest giants have been dragged into the court fight over the low interest rates offered on many cash sweep accounts. Class-action lawsuits have been filed in various U.S.

Charles Schwab is the latest large financial-services firm to face a lawsuit challenging its approach to cash-sweep accounts, the typically low-yield accounts where brokers sometimes put clients’ ...

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PHILADELPHIA, Nov. 25, 2024 /PRNewswire/ -- Berger Montague, a national plaintiffs' law firm, is pleased to announce that is has been named Interim Co-Lead Counsel in proposed class actions arising ...