PALO ALTO, Calif., Nov. 27, 2023 /PRNewswire/ -- The intuitive investment and trading platform moomoo has recently updated its Cash Sweep program in the US, with a compelling 5.1% annual percentage ...

UBS Group Wednesday morning became the latest wealth management firm to declare it was increasing yields on clients' cash held in advisory accounts, joining Wells Fargo & Co., Morgan Stanley and ...

The financial advice industry’s skirmish over cash sweep accounts is taking another turn, with clearing giant Pershing evaluating plans to create a new charge, akin to a tax, on cash held by its ...

In recent years, the US Securities and Exchange Commission (SEC) has initiated several probes into how advisory firms manage their cash sweep programs, which are designed to transfer idle cash from ...

Never has cash been so controversial in wealth management. Merrill Lynch, Wells Fargo, LPL, and many other brokerage firms are currently facing lawsuits over the low interest rates they pay on ...

The U.S. Securities and Exchange Commission smacked Wells Fargo and Bank of America with a combined $60 million in penalties for allegedly mismanaging the cash sweeps of their clients. Cash sweeps are ...

Wells Fargo faces another potential class action lawsuit in the growing controversy embroiling the bank’s cash sweep deposit programs. Scotch Plains, N.J.-based Daniel Varady filed his suit seeking a ...