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Cash Sweep: A Cost of Doing Business or A Fiduciary Breach?
Cash Sweep: A Cost of Doing Business or A Fiduciary Breach?
As interest rates creep lower, banks, custodians and money managers are finding creative ways to generate revenue. Though it’s not a new practice, many are forcing cash into sweep bank accounts and paying a lower rate of return than offered by comparable money markets. A recent study pointed out that the average RIA held about…
