Sweep tab

Sweep is the required uninvested cash in your accounts, which is used to pay for Investment Advisory (IA) and planning fees and provide liquidity when doing trades.

Below is an explanation of how the sweep page works:

1. Target holdings

   The total value of each account

2. Required fee (%)

   The IA fee requirement for the assets in this account (typical IA fees are between 1 – 2%)

3. Fees incurred

   The dollar equivalent of the Required fee % (e.g. $600k * 1.5% = $9,000)

4. Billed to

   Allows for one account to pay for another account’s fees (e.g. NQ paying for its own fees as well as those of an IRA)

5. Fees billed

   The total IA fees billed to an account

   This number is typically the same as the Fees incurred column unless you have one account paying for another account’s fees.

6. Fixed fee

   A dollar amount that is held in addition to the IA fee amount (e.g. a monthly retainer fee for financial planning)

7. Required Liquidity (%)

   Sets a minimum buffer to prevent overbuying while trading due to market fluctuations. We recommend 0.5%

   If the IA fees and/or fixed fee are greater than the Required Liquidity %, then this minimum buffer is ignored.

8. Total sweep target

   The value of either the IA Fees billed plus the Fixed fee OR the Required Liquidity % (whichever is greater)

9. Current Sweep

   Amount of sweep currently held in the account

10. Rebalance action

    Indicates whether the account’s Current Sweep value is being rebalanced to its Total sweep target

    To change this action, click Rebalance Sweep in the bottom-right.

    Note: All accounts must be rebalanced the first time you implement a portfolio

11. Rebalance amount

    If rebalancing, the net amount required to reach the Total sweep target

Click here for instructions on how to finish editing the plan and place the trade(s).