The Sweep Advantage

Janney has established a “multi-bank” Insured Sweep Program. Our program contains a number of participating banks and you can review the list of banks. Your deposited cash balances will sweep nightly to one or more banks. The total number of banks to which balances sweep will be determined by your total balances.

Allocation of Funds to Banks
Janney will deposit available cash balances from your brokerage account(s) into each of the banks, beginning with a sweep of up to $98,500 (or up to $197,000 for joint accounts of two or more) to the first bank and then to more banks as balances determine. Please see the multi-bank sweep example below. You may at any time direct your Financial Consultant to withdraw funds from a bank and place them into another investment.