No. of Recommendations: 0
I venture to guess you had the sweep arrangement in place over a couple of years ago, or else you yourself must enter an order to make the sweep transactions. A while back, most brokerages stopped doing that automatically. I think at Fidelity, to be eligible for automatic sweeps to a money fund you need something like over $1 mill. in assets. Otherwise your cash balance gets something like 0.1% or less. Same at Morgan Stanley. Same at Schwab. My emergency/opportunity cash fund is in a money market fund at Schwab, where I get over 2.25%, but I have to enter an order to buy/sell from the money market fund.

Vanguard does an automatic sweep to their Federal Money Market fund which had a 7-day yield of 2.34%. However, E-Trade does not have a high interest sweep account, so I move that money out. It seems this may be an advantage for Vanguard.
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.