Brokerage Sweep

NewEdge Securities

Bank Deposit Sweep Program


Brokerage accounts introduced to National Financial Services LLC “NFS” (a Fidelity company) through NewEdge Securities LLC (NES) have a core investment account that is used for settling securities transactions and holding free credit balances. Free cash balances in eligible brokerage accounts will be automatically deposited into interest-bearing FDIC-insurance eligible deposit accounts at one or more FDIC-insured depository institutions set forth in the list of depository institutions participating in the Program (“Program Banks”).

For a current list of program banks and the respective order of deposits by region and account type, please click here.

Securities in your brokerage account(s) are generally protected, up to applicable limits, by the Securities Investor Protection Corporation (the “SIPC”). At the time funds are deposited with one or more Program Banks, your investment in the Program is eligible, subject to the limitations described in the Bank Deposit Sweep Program Disclosure Document, to be insured, up to applicable limits, by the Federal Deposit Insurance Corporation (the “FDIC”). The FDIC’s insurance coverage for all insurable capacities (e.g., individual, joint, etc.) is $250,000. Therefore, funds in the Deposit Accounts at each Program Bank are generally eligible for deposit insurance by the FDIC up to a total of $250,000 principal and accrued interest per depositor in most insurable capacities (e.g., individual, joint, etc.) when aggregated with all other deposits held in the same insurable capacity at a Program Bank.

For current yields on the Bank Deposit Sweep Program as of 2/1/2024, please click here.
For current yields on the Retirement Sweep Program as of 2/1/2024, please click here.

For more information about the Bank Deposit Sweep Program, please refer to the Bank Deposit Sweep Program Disclosure Document below. 

*This link will only permit an historical look back on Best Execution Information effective April 1, 2019