Baird’s Cash Sweep Program

Through Baird's Cash Sweep Program, Baird offers the opportunity for the first $250,000 of a client's cash balances to be automatically "swept" into an interest-bearing bank deposit account maintained at either CIBC or U.S. Bank. Clients with advisory IRA accounts and those with household account values of $250,000 or more may have some or all cash balances swept into taxable and tax-exempt money market mutual funds sponsored by The Dreyfus Corporation. This page offers more information, including frequent rate updates and prospectuses.

Any balances held in a bank deposit account or in shares of money market mutual funds may be liquidated at a client's request, and the proceeds will be returned to the client's account or remitted to the client.  Each account option offers easy access to funds through a Baird Financial Advisor. Interest and dividends paid on your securities at Baird can be deposited automatically into your cash sweep account. For additional information about Baird's Cash Sweep Program, please reference the Cash Sweep Program Disclosure or contact your Baird Financial Advisor.

Baird Cash Sweep Program Summary

Total Household Balance

Household Cash Balance

Auto vs. Optional Deposit

Account Type

Brokerage

Advisory Accounts

IRA

Non-IRA

Under $250,000

n/a

Auto:

Insured Deposit Program (ID1)

GMA
(GMMXX)

Insured Deposit Program  (ID2)

Optional:

n/a

n/a

n/a

$250,000 - $4,999,999

n/a

Auto:

First $250K – Insured Deposit  (ID2-4)

Anything over $250K:

  • Natural Persons: GMM (GMBXX)1
  • Others: GTP (GTBXX)

GMA
(GMMXX)

First $250K – Insured Deposit (ID2-4)

Anything over $250K:

  • Natural Persons: GSB (GMMXX)1
  • Others: GTP (GTBXX)

Optional:

Cash Sweep Mutual Funds

n/a

Cash Sweep Mutual Funds

 $5,000,000+

Under $5,000,000 in cash

Auto:

First $250K – Insured Deposit (ID5)

Anything over $250K:

  • Natural Persons: GMM (GMBXX)1
  • Others: GTP (GTBXX)

GMA
(GMMXX)

First $250K – Insured Deposit (ID5)

Anything over $250K:

  • Natural Persons: GSB (GMMXX)1
  • Others: GTP (GTBXX)

Optional:

Cash Sweep Mutual Funds

n/a

Cash Sweep Mutual Funds

Over $5,000,000 in cash

Auto:

First $250K – Insured Deposit (ID5)

Anything over $250K: DGS (DIPXX)

GSI
(DGCXX)

First $250K – Insured Deposit (ID5)

Anything over $250K: GSM (DGCXX)

Optional:

Cash Sweep Mutual Funds

n/a

Cash Sweep Mutual Funds

View:
Bank Deposit Rates | Money Market Mutual Fund Rates | Cash Sweep Program Disclosure [PDF]

1Available only to “natural persons” accounts as defined by the SEC’s Money Market Fund Reform rules. Cash assets over $250K for accounts not meeting the SEC definition of “natural persons” are auto-swept into the Dreyfus General Treasury Securities Money Market – Class B

Bank Deposit Rates

As described below, different interest rates apply based on a client’s household account values.

Bank deposit account rates as of 07/13/2018

CIBC
Household Balance Rate
$0 - $249,999 (brokerage accounts) 0.25%

U.S. Bank
Household Balance Rate
$0 - $249,000 (advisory accounts)
$250-000 - $999,999
0.50%
$1,000,000 - $1,999,999 0.65%
$2,000,000 - $4,999,999 0.75%
$5,000,000 or more 0.90%


The Bank Deposit Account is not a money market mutual fund. Rather, it is a deposit account held at either CIBC or U.S. Bank. Because of this, an investor’s deposits in this account are insured by the Federal Deposit Insurance Corporation (FDIC) up to the limitations as described in detail in the Cash Sweep Program Disclosure. The applicable interest rate will be set at a rate determined monthly by Baird based on household balance.

Money Market Mutual Fund Rates

Available to select clients as outlined below

Rates as of 07/13/2018

Retail Funds
Available to clients wtih a household balance of $250,000 or more.    
General Money Market - Class B GMBXX 1.21%
General Municipal Money Market Fund GBMXX 0.04%
General California Municipal Money Market Fund GCAXX 0.28%
General New York Municipal Money Market Fund GNYXX 0.01%

Government Funds
Available to clients with a household balance of $250,000 or more.    
General Government Securities Money Market Fund GSBXX 0.92%
General Treasury Securities Money Market Fund GTBXX 0.90%

Investment Advisory
Only available for clients that have an investment advisory relationship with Baird.  
General Money Market - Class A GMMXX 1.46%

Institutional Funds
Available to clients whose household cash balances are $5 million or greater.  
Brokerage Accounts
Government Securities Cash Management Fund - Institutional
DIPXX 1.74%
Investment Advisory Accounts
Dreyfus Government Cash Management Fund - Institutional Shares
DGCXX 1.80%

Not Open to New Investors
General Municipal Money Market - Class A GTMXX 0.49%


Performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns of money market mutual funds will fluctuate so that an investors’ shares when redeemed, may be worth more or less than their original cost. The funds' current performance may be lower or higher than the performance data quoted.

You could lose money by investing in the Fund.  Although the Fund seeks to preserve the value of your investment at $1.00 per share it cannot guarantee it will do so.  The Fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.  The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Investors should consider the investment objectives, risks, charges and expenses of each money market mutual fund carefully before investing. This and other information is found in the prospectus. To view and print a prospectus, please select from the funds listed above. Please read the prospectus carefully before investing.


Money Market Fund Risks.
An investment in a money market fund is not insured or guaranteed by the FDIC or any other government agency. Although money market funds typically seek to preserve the value of an investment at $1.00 per share, there can be no assurance that will occur, and it is possible to lose money should the fund value per share fall. In some circumstances, money market funds may be forced to cease operations when the value of a fund drops below $1.00 per share. In that event, the fund's holdings may be liquidated and distributed to the fund's shareholders. This liquidation process could take time to complete. During that time, the amounts a client has invested in the money market fund would not be available for purchases or withdrawals. SEC regulations for money market funds may impact how some money market funds operate. These regulations make a distinction between: (1) government money market funds (funds that invest nearly all assets in cash, government securities, and/or repurchase agreements collateralized by cash or government securities); (2) retail money market funds (funds that have policies and procedures reasonably designed to limit beneficial ownership to natural persons); and (3) institutional money market funds (funds that permit beneficial ownership by institutions and natural persons). Institutional money market funds are required to calculate their NAV in a manner such that the NAV will vary based upon the market value of assets and liabilities of the fund (also known as a “floating NAV”). In addition, retail and institutional money market funds are required to impose redemption fees (also known as liquidity fees) and suspend redemptions (also known as redemption gates) in certain circumstances. Government money market funds may also impose redemption fees and suspend redemptions in those same circumstances. More specific information about how a money market fund calculates its NAV and the circumstances under which it will impose a redemption fee or suspend redemptions is set forth in the prospectus for that money market fund.