Cash Sweeps 2023

With trillions of dollars just sitting in accounts and earning nothing for clients, the industry veteran said cash presents a significant business opportunity for advisors.

Only Charles Schwab out of a dozen major wealth management firms answered a series of questions about their clients' increasingly important liquid assets.

Cash sweeps are lucrative to brokerages and custodians, but not to clients. Here's what financial advisors should know about how they can get greater yield for clients' liquid assets.