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fidelity and schwab restrict access to money market etfs for clients
Fidelity Investments and Charles Schwab are restricting clients from investing in money-market ETFs, a departure from their usual practice of allowing access to such funds. This decision affects three ETFs from BlackRock and Texas Capital, which challenge traditional mutual fund providers. The move highlights the increasing competition in the asset management sector and has surprised some investors who view money-market investments as standard options.
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