11.12.25

LPL Launches Cash Management Account

by: Andrew Foerch

LPL Financial has launched a new cash management account (CMA) offering clients Federal Deposit Insurance Corporation (FDIC) insurance coverage of up to $2.5 million for individuals and $5 million for joint accounts through its Insured Cash Sweep Program, 10 times the standard FDIC protection. The CMA includes direct deposit, mobile check deposit, bill pay, debit card, check writing and digital payment integrations, aiming to integrate banking and investing for clients and advisors. LPL emphasized the account allows quick action on investment opportunities while providing everyday banking functionality.

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