I looked into the Fidelity and Vanguard business accounts. Neither of them sync with accounting software, so your acquaintance could be in for an headache come account reconciliation time when they have to manually reconcile everything.Probably, mid six figures.
What's the average daily balance in question here (ignoring whatever balance that needs to be in business checking for practical reasons)?
What is the goal with the business brokerage? Is your acquaintance trying to squeeze out a little yield on cash between payrolls? Is this cash being set aside for a longer term goal?
Either way, with that kind of cash, I'd only want to deal with a real bank. Many regional banks offer business money market funds that have a pretty good yield. There are also high yield business savings accounts as well.
Statistics: Posted by NYCaviator — Tue Nov 04, 2025 9:42 pm — Replies 2200 — Views 337016