Cash sweeps

Advisor Upside

Wall Street’s Hush-Hush Cash Sweeps Take Center Stage

Photo by Ryan Brooklyn via Unsplash

High-profile lawsuits and SEC investigations over cash sweeps have taken the industry by storm.

2 min read

Photos by Ikechukwu Julius Ugwu and Nick Sarvari via Unsplash, Daveynin via CC BY 2.0, and Michael Vi via iStock

Advisor Upside

Big Brokers Beat Estimates in Strong Start to Earnings Season

JPMorgan Chase and Wells Fargo, among other banks and asset managers, beat analysts’ expectations in the third quarter.

1 min read
Photo by Djkeddie via CC BY-SA 4.0

Advisor Upside

Schwab Eyes Financial Advice as Cash Sweeps Dry Up

The online brokerage has long relied on bank revenues, like cash-sweep programs, but executives are now leaning into wealth management.

2 min read
Photo by Ajay Suresh via CC BY 2.0

Advisor Upside

Morgan Stanley Clients Earned .01% on Cash. Now, They’re Suing

A class-action lawsuit filed by a former Morgan Stanley customer revolves around cash sweeps that earn additional income on uninvested cash.

2 min read