"TD to offer alternatives to money market funds" says Investment News. The weekly publication writes, "TD Ameritrade is readying a suite of alternatives to money market funds that it says will help financial advisers and its online brokerage clients deal with rock-bottom interest rates without assuming too much risk. The most innovative, in its way, is likely to be a throwback: a savings-account-like product from an FDIC-insured bank." We're somewhat mystified by the story, however, since we've been under the impression that TD Ameritrade has been offering such a product for some time. (Our Brokerage Sweep Intelligence lists these rates from 0.05% to 0.10%.) "For clients that want capital preservation and liquidity, the FDIC-insured product is the better one and safer one," said TD Ameritrade president and chief executive `Fred Tomczyk. See also, Chuck Jaffe on MarketWatch's "Low-yielding Treasury funds should close up shop".
