Cash Sweep Program definition
Examples of Cash Sweep Program in a sentence
You may also elect not to participate in the Cash Sweep Program and instead periodically invest cash balances directly.
Your financial professional can provide further details and additional information, including a prospectus, for any of the money market mutual funds available for direct investment outside of the Cash Sweep Program.
Under the Cash Sweep Program ("Sweep Program"), cash balances in your Advantage Account are automatically swept into your selected sweep option.
The Sweep Program is described more fully in the Cash Sweep Program Disclosure Statement, which you will receive with your General or Basic Brokerage Account Agreement and Disclosure.
Please note, however, that available cash accumulating in your account will not be automatically swept into any investment you purchase outside of the Cash Sweep Program.
Please note if you elect not to participate in the Cash Sweep Program, accruing cash balances will not earn a rate of return prior to direct investment.
You may elect not to participate in the Cash Sweep Program and/or periodically invest cash balances directly in available money market mutual funds or other products offered as direct investments outside of the Cash Sweep Program by providing instructions to your financial professional.
In addition, available cash will not be automatically swept into any money market mutual fund or other investment that you purchase outside of the Cash Sweep Program.
For additional information about the Expanded and Standard Bank Deposit Sweep programs, including information about how WFA, RIA and the Program Banks benefit from them, see the Cash Sweep Program Disclosure Statement provided below.
Prior to the receipt of your signed account documents, cash deposited into your account and not otherwise invested will be held as a free credit balance and not placed in the Cash Sweep Program until written consent is provided to participate in the Cash Sweep Program.