Gil’s Musings

The Cash-Sweep Lawsuits Make a Strong Argument–for Fiduciary Advice

ByGil Baumgarten
cash sweep

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 accounts that hold clients’ uninvested cash. The hoopla over cash sweeps—which has attracted regulatory notice as well—hinges on whether clients are entitled to the highest rate available. 

Gil Baumgarten had another opinion piece published in Barron’s! Click below to read the full article.

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