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CUSTODIAL UPDATES

FIDELITY

FDIC Announcement

As a reminder, we have implemented a change to the default core account for clients’ cash at Fidelity. The new default will be the Fidelity Bank Deposit Cash Sweep Program option. The core transaction account is used by Fidelity for processing cash transactions and for holding uninvested cash related to the account. Fidelity will send a letter to your clients on June 13.

  • The Bank Deposit Cash Sweep Program will allow your uninvested funds to be protected by FDIC insurance.
  • Funds will be transitioned automatically at no cost to the advisor/client.
  • This change is completely optional but needs to be completed by Aug. 2.

CLICK HERE to view a sample of the communication.

As always, please reach out to your AE Wealth Support team at 866.363.9595 for further details.

615994 - For investment professional use only.

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