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But in a somewhat surprising move, both of these brokerages blocked access for clients topurchase three specific ETFs.
Heres what it’s crucial that you know.
Which ETFs Are Blocked?
The iShares ETFs were issued by BlackRock and the third ETF was issued by Texas Capital.
In recent years, investors have shown an interest in money markets.
The rising rate environment pushed short-term rates over 5%.
Take the time to decide on theright asset allocationbefore jumping into any new changes with your investment portfolio.
Why Are These ETFs Blocked?
Its rather unexpected for Fidelity and Charles Schwab to block their investors from purchasing an ETF.
But these three ETFs track money-market mutual funds.
Recently, Fidelity and Charles Schwab each released their own government money-market ETFs.
Brokerage platforms have the ability to choose what investors can and cannot purchase through their platform.
It seems natural that these large brokerages wouldnt want to place a competitors ETFS onto their own platform.
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