High-yield cash management accounts are popping up at brokerages nationwide, promising customers much better returns and higher insurance limits than they can get from traditional banks.
The accounts are a twist on the sweep accounts brokerages have long offered their customers, where idle cash is swept into a money market account or affiliated bank account so it can earn interest while waiting to be reinvested.
In my latest for the Associated Press, more on high-yield cash management accounts and how to decide if one is right for you.