Money Market Position Change
The Plancorp Investment Committee meets throughout the year to review and analyze investment decisions to proactively determine what's in the best interest of our Clients. The Committee met last week and voted unanimously to move all client positions currently held in taxable money market funds at Charles Schwab & Co. and Fidelity to their respective Treasury Money Market funds. With nearly all brokerage money market positions yielding 0.01%, we see no reason to maintain exposure to a taxable money fund with exposure to any non-US Treasury positions. This change will not result in any trade costs to you.
This type of decision is in keeping with our belief that there is no reason to take any risk, no matter how small, for which you do not get paid.
We plan on making this money market position change by working directly with Charles Schwab and Fidelity over the next few weeks. Should you have any questions, please do not hesitate to call us.