Brokerage Sweep & Uninvested Cash Yield Watch

Why this is recommended

The gap between a default sweep and a money market fund is $900 a year on $25,000; a settlement over sweep practices pays real money to account holders; a rate cut at a cash management account is worth knowing the day it lands. One move pays for a decade.

What the Tab covers

Who it is for

The 60 million households with a brokerage or robo account, most of whom have cash earning 0.1 percent next to a money market paying 4.

When it runs

Brokers reprice sweeps after Fed decisions and post changes at the start of the week

Scope

Schwab, Fidelity, Vanguard, Robinhood, E*TRADE, Merrill Edge, Wells Fargo Advisors, Morgan Stanley, Ameriprise, LPL, Raymond James, Wealthfront, Betterment, SoFi, Public, Webull and Interactive Brokers sweep rates and options; money market fund yields and expense ratios; sweep and cash management lawsuits and settlements; FDIC sweep program coverage and bank partner changes; cash management account rates and fees; advisory cash allocation disclosures; outages affecting transfers; SEC and FINRA actions on cash sweep practices

Suggested task

The objective your Tab starts with. You can edit every line of it once the Tab is yours.

Default sweep rates and cash yield changes at Schwab, Fidelity, Vanguard, Robinhood, E*TRADE, Merrill, Wealthfront, Betterment, SoFi and the others, money market fund yield and expense changes, sweep lawsuits and settlements with claims, FDIC sweep program and coverage changes, cash management account rate and fee changes, advisory account cash allocation rules, broker outages affecting cash movement and SEC and FINRA actions on cash practices, with the broker first and the yield gap on $25,000 in the title.

Track the yield on uninvested cash at US brokerages and robo-advisors. Report only confirmed, source-backed items from the last 7 days: default sweep rate and sweep option changes at Schwab, Fidelity, Vanguard, Robinhood, E*TRADE, Merrill Edge, Wells Fargo Advisors, Morgan Stanley, Ameriprise, LPL, Raymond James, Wealthfront, Betterment, SoFi, Public, Webull and Interactive Brokers; money market fund yield moves of 0.25 points or more and expense ratio changes at the largest funds; sweep and cash management lawsuits, settlements and claims deadlines; FDIC sweep program coverage, bank partner and insurance limit changes; cash management account rate and fee changes; advisory account cash allocation rule and disclosure changes; outages over four hours affecting cash transfers; and SEC and FINRA actions on cash sweep practices. Prefer broker rate pages and disclosures, fund fact sheets, court documents, the SEC, FINRA and established investing reporting; ignore affiliate rankings without stated rates. Put the broker first in the title with the rate and the yield gap on $25,000 against the best available money market option at that broker. Use high severity for a rate cut of 0.5 points or more, a settlement with a claims deadline, or an enforcement action at a top-10 broker. Return no more than 6 findings. Push each as a finding with a title, a two-sentence summary, sections for what changed, the yield gap, what to do, the date, and the source link. If nothing qualifies, push nothing and submit the run receipt.