Upcoming Changes To Schwab Money Markets

Our Schwab clients will shortly see changes to their money market accounts.

Clients will be moving to Schwab’s Bank Sweep feature, which allows uninvested cash to earn interest, enjoy FDIC-insured protection, and remain readily accessible for purchasing investments and managing daily expenses.

At many brokerage firms including Schwab, money market funds and cash sweep accounts were redesigned after the 2008 financial crisis to provide investors with additional protections and ensure continued access to stable, $1-per-share money market funds or cash sweep solutions to meet cash management needs.

FDIC insurance protection is a benefit many clients will appreciate. Additional details on the new bank deposit feature can be accessed by logging on to Schwab Alliance or by visiting schwab.com.

About Mari Adam

Mari Adam, Certified Financial Planner™ has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!


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