When interest rates started to rise a couple of years ago, it was a bonanza for wealth management firms, which could make extra interest off client money parked in short-term overnight bank accounts.

Bank of America has been hit with a new class action over its cash sweep program, with a New Jersey resident accusing the bank of automatically sweeping money into accounts with unreasonably low ...

To keep your spare cash growing, consider placing it in a high-yield savings account or investing in securities with strong return potential. Letting your money sit idle is a missed opportunity to ...

Very few wealth management firms are willing to engage with questions about their cash sweep programs, even though they represent about $1 trillion in client holdings across the industry. Two experts ...

It will be a red flag for regulators if an advisor is charging a fee that is higher than what a client is earning in sweep accounts, Max Mejiborsky, VP of Compliance Services at COMPLY said.

The Securities and Exchange Commission has formally concluded its investigation into Morgan Stanley’s advisory cash sweep program without pursuing any enforcement action, according to a regulatory ...

Access nine figures in FDIC coverage using an ICS account, which distributes your funds across many different banks. Many, or all, of the products featured on this page are from our advertising ...

To keep your spare cash growing, consider placing it in a high-yield savings account or investing in securities with strong return potential. Letting your money sit idle is a missed opportunity to ...

Coming on the heels of the share class initiative, 1 the US Securities and Exchange Commission (SEC) is at the initial stages of another initiative involving concerns about adviser disclosures and ...

The bank, which owns Merrill Lynch, is giving investors notice of potential legal risks just when rival wealth management companies are facing lawsuits and regulatory scrutiny. This summer, wealth ...