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Can We Post Money Market Funds At Brokerages Here?

xer00
  |     |   150 posts since 2019

Some of the Federated and Blackrock MM funds are hitting 2.31% today and these are liquid with 1 day settlement.

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Choice
  |     |   937 posts since 2020
DA has a limit on number of characters but otherwise seemingly everything is a go...you'd fit right in.
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GH1
  |     |   1,058 posts since 2017
thank you we should all be looking those also
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RichardW
  |     |   821 posts since 2019
Here are the yields of a few common money market funds as of 9-2-2022: SWVXX @ 2.22%, VMRXX @ 2.19%, VMFXX @ 2.15%, SPRXX @ 2.09%, and SPAXX @ 1.81%.
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RichardW
  |     |   821 posts since 2019
xer00,
What are the names or ticker symbols (e.g., VMRXX) of the Federated and BlackRock money market funds which are hitting 2.31%? The only BlackRock or Federated (Hermes) money market funds I could find which currently have yields greater than 2.20% are institutional share class money market funds. They are: TMPXX @ 2.28%, TMCXX @ 2.31%, PVOXX @ 2.26% and POIXX @ 2.26%. TMPXX and TMCXX each require $3,000,000 as the minimum investment. PVOXX and POIXX each require $500,000 as the minimum investment.
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xer00
  |     |   150 posts since 2019
TMCXX only requires $1000 initial investment at Merrill. I know it says different on the Blackrock's website, but I bought some in a SEP/IRA at Merrill that only $27k in it. --------------------

BlackRock Liquid Environmentally Aware Fund --- Institutional Class5, 6, *** LEFXX 2.30%----------

BlackRock Liquidity Funds: TempCash Fund --- Institutional Class5, 6, *** TMCXX 2.31%------------

Federated Hermes Institutional Prime Value Obligations Fund --- Institutional Class5, 6, *** PVOXX 2.26%..---------- 

What the codes mean: (5) $1,000 minimum initial investment.-----------------

(6) This is a non-sweep fund - an order must be entered for all transactions (purchases and sales). Please contact your representative for additional information.---- 

If you have Merrill account go to the bottom of the page after you log on and look for: Deposit Account & Money Fund Rates (PDF) https://olui2.fs.ml.com/Publish/Content/application/pdf/GWMOL/ICCRateSheet.pdf 
 I remember there's more at other brokers that have agreements with the funds to allow customers to buy them at low minimums. Every brokerage is different and may charge $30 to buy or sell a fund and others charge $0. Merrill charges $0 to buy and sell. E*Trade, Fidelity and TD Ameritrade have some free MM funds too. Look under Money Market Funds and go from there.
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xer00
  |     |   150 posts since 2019
I was wrong about E*Trade, they only let managed accounts buy MM funds.---------------------------------------------------------------------------------------------------------------------------

TD Ameritrade SWVXX (free to trade) 2.22% $1000 min to invest, no min to add__________________________________________________________

Fidelity SPAXX 1.88% -------------------- SPRXX 2.09% - Both $1000 to invest, no min to add.
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RichardW
  |     |   821 posts since 2019
Thanks for the feedback. I thought institutional share class funds were reserved for investment managers of banks, pension funds, foundations, insurance companies, and other similar organizations. I didn’t know that individual investors could obtain institutional share class funds. The fact that Merrill allows you to acquire these funds with such a low minimum investment is a nice perk.
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planxy
  |     |   140 posts since 2013
Nothing in Merrill's list of funds is apparently available in its IRA, despite minimum investments of $1000 for what I tried.
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GH1
  |     |   1,058 posts since 2017
5 Year callables coming in over 4 percent

JPMorgan Chase & Co. OH 4.15% CD 09/23/2027 Callable
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