Fidelity to Switch Advisor Custody Accounts to FCASH as Only Core Sweep Option

News November 27, 2024 at 04:28 PM
Share & Print

What You Need To Know

  • Starting next year, non-retirement custody cash sweeps will default to an option with lower yields than the fund many RIAs currently use.
  • Advisors can trade into other investment options, Fidelity notes.
  • Several investment managers have been sued in recent months over low interest rates on cash sweeps.
/contrib/content/uploads/sites/415/2022/07/Fidelity_Building_Sign_Shutter_640x640.jpg

What You Should Be Reading

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Immediate Answers to Critical Tax Questions At Your Fingertips

Keep up with the latest tax rules and regulations with weekly, exclusive updates by our Tax Facts experts.

Get More Information

Recently Added Q&As

How are business expenses reported for income tax purposes?
Get Answer
What is a charitable IRA rollover or qualified charitable distribution?
Get Answer
What are the tax benefits that can be realized by providing employee benefits through a cafeteria plan?
Get Answer
What are the Social Security and Medicare tax rates for traditional employees and employers?
Get Answer
What developments have emerged regarding a fiduciary’s consideration of environmental, social and governance (ESG) issues in making investment decisions?
Get Answer
What are the Social Security tax and Medicare rates for self-employed taxpayers?
Get Answer
How is it determined whether a taxpayer is an independent contractor or a common law employee?
Get Answer
What is FBAR, and does a U.S. citizen living in Canada need to be concerned with FBAR requirements?
Get Answer

Related Stories

Resource Center

Recommended For You