Fidelity Investments is changing its liquidity policy so that more of clients' uninvested funds end up in a low-interest transfer account. Starting next year, Fidelity will put cash held in non-retirement brokerage accounts into its FCash product, which pays an interest rate less than half that of some money market accounts. The move applies to grandfathered accounts overseen by independent financial advisors that had previously been exempt from the cash transfer policy announced by Fidelity a year ago. Fidelity notes that advisors have other options for clients' long-term cash, such as moving it into money market funds.
Other…
#week #Fidelitys #CashSweep #game
,