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Wells Fargo Cash Sweep
Starting in or about July 2007, uninvested cash balances in your H.D. Vest brokerage account will automatically sweep to the Wells Fargo Cash Sweep - an interest-bearing deposit account at Wells Fargo Bank, N.A., which is FDIC-insured up to applicable limits.
This deposit account will only be accessible to you through the sweep feature of your H.D Vest brokerage account. Deposits, sales proceeds, interest, and dividends in your account will sweep automatically to the Wells Fargo Cash Sweep. These cash balances will be used to settle trades and satisfy debits in your account.
No action is required on your part.
This change to your account will take effect automatically in or about July 2007 unless
- Your account is set-up to sweep cash balances to a linked bank account or you have standing cash disbursement instructions;
- Your account is set-up to sweep to a tax-free money market mutual fund;
- Your account is currently designated as a day-trading account by H.D. Vest;
Or
- You select one of the alternatives discussed in the Frequently Asked Questions.
If you prefer an alternative, please contact your H.D. Vest Advisor.
Please review the Disclosure Statement for Sweep Features and Frequently Asked Questions for more details on how the Wells Fargo Cash Sweep works.
If you have additional questions, please contact your H.D. Vest Advisor
Links:
Frequently Asked Questions
Disclosure Statement PDF
Cash Sweep Rate Table
Log into myhdvest.com to view your account information.
