$32.3m follower assets
Beware, Dividend stock investors
Wealthfront now offers 2% APY, I think this will increase to 3% in 6-12 months.
So putting your cash at risk in equities for a dividend is not going to be a great tradeoff anymore, just put it in wealthfront instead.
As this trend catches up, demand for dividend stocks should go down and your capital will depreciate.
For people with Fidelity accounts, put it in one of these which you have to manually purchase but Fidelity autosells to cover debits and trades on the account.
SPRXX ($0.01 minimum to buy) 7 day average yield 2.00% APY
FZDZZ (To buy it the first time requires $100,000 but as long as you have any position, you can buy $0.01 7 day average yield 2.12% APY
For Charles Schwab customers, there is SVWXX ($0.01 minimum to buy) 7 day average yield 2.03% APY
Wealthfront as the footnote on their webpage states "FDIC insurance is not provided until the funds arrive at the program banks."
Have used Wealthfront for a long time. Glad to see the APY going up
