Merrill Edge and Wells Fargo offer institutional class money market shares that typically have a 7 or 8 figure minimum for a $1.
For example, BlackRock Treasury Trust Fund (TTTXX) has a $3m minimum and Fidelity Treasury Money Market (FRSXX) has a $10m minimum but I can get them both at Merrill for $1 minimum. At WellsTrade you can invest in the Allspring Treasury Money Market (WOTXX) that normally has a $10m minimum for as low as $1.
How are they able to do that?
If I had an account at Fidelity, I wouldn't be able to invest in FRSXX unless I was investing $10m.
For example, BlackRock Treasury Trust Fund (TTTXX) has a $3m minimum and Fidelity Treasury Money Market (FRSXX) has a $10m minimum but I can get them both at Merrill for $1 minimum. At WellsTrade you can invest in the Allspring Treasury Money Market (WOTXX) that normally has a $10m minimum for as low as $1.
How are they able to do that?
If I had an account at Fidelity, I wouldn't be able to invest in FRSXX unless I was investing $10m.
Statistics: Posted by MtnTravel — Fri Jan 03, 2025 12:44 pm — Replies 2 — Views 129