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Marion Said:

Does Fidelity Brokerage account do any cash sweeps for idle cash?

We Answered:

Yes Fidelity sweeps cash into their money market account

Scottrades, like most firms are doing away with "bank" sweeps since they generate very little interest compared to "in-house" sweeps and the firm does not have full control over money movements. Whenever banks are involved in any type of money movement it's usually screwed up.

Most in-house sweeps, since they are part of an account balance are covered by SIPC and most major firms have additional insurance, usually up to one million dollars.

I have accounts at both Fidelity & Scottrade, "in-house" sweeps are much better

Ken Said:

How much should I pay for a financial planner?

We Answered:

That depends on how much money they are managing. My advise is educate yourself and be informed about what you want to do with your money. Chances are if you don't have a large sum of money you may be able to better handle it yourself.

How much time does it take you to earn $1000.00./ Could it be better for you to spend that time educating yourself on how to manage your own money than paying someone else? What returns are they going to get you?

Just food for thought

Ian Said:

How does stock brokerage insurance work for IRA accounts with stocks holding?

We Answered:

Look up SIPC insurance for an explanation..