I keep roughly 1% of assets in cash from two accounts at Schwab. Even if they paid me 5% it wouldn't change my life any.

Won't change my life either but 1% in say, a million dollar account(s), would be about $500 bucks more in my pocket each year. I play the Schwab game of moving between MM and the sweep account as they made the rules, typically limiting the sweep to a couple of bucks. If a trade kicks in you have a day or two to make the switch back.

I would get a couple free lunches per month. If I was worried that much about it I would eat lunch at home instead of going out every day. :)

It appears that if you are a Flagship customer (1M+) you will be exempt from the $25 Broker-assisted commision.

I keep roughly 1% of assets in cash from two accounts at Schwab. Even if they paid me 5% it wouldn't change my life any.

Won't change my life either but 1% in say, a million dollar account(s), would be about $500 bucks more in my pocket each year. I play the Schwab game of moving between MM and the sweep account as they made the rules, typically limiting the sweep to a couple of bucks. If a trade kicks in you have a day or two to make the switch back.

Coverage is $500K per 'separate capacity' - defined, loosely, by account ownership and type: https://www.sipc.org/for-investors/investors-with-multiple-accounts
Since it sounds like everything is currently in a "joint" account, you could open an 'individual' account at the same firm and move some of the assets there.
Alternatively, you can move assets to another firm "in-kind", which would not be a taxable event.

Thank you yugo, opening 'individual' accounts is exactly what we are doing and then moving some of the 'joint' account shares 'in-kind' to the individual A/Cs. Thanks for your comment.

I keep roughly 1% of assets in cash from two accounts at Schwab. Even if they paid me 5% it wouldn't change my life any. When it gets much more than 1% I will add to positions or put it in the MM fund.
But, TBH, this is something I've never fretted over.

@Crash - Can you submit that $1 sell order now? (Use the “sell all” option.) Then it should automatically execute in 2462.
In 1976, you could have mailed a letter first-class for 13-cents

I have the Fido 2% cash back for many years. The first time I did a dispute was last week, what a pain in the A$$. You must talk to a rep and it took 30 minutes for a simple dispute.
I joined Penfed 15-20 years ago, (anyone can) and have 2 cards
1) 5% cash back on all gas stations, you must fill at the pump. I use it only for gas. It also pays 3% for supermarkets, food and more. But Walmart and Aldi where I shop are not included.
2) 2% cash back worldwide on everything.
Both cards have a real zero fee worldwide and good customer service. You can dispute online in minutes.
Last year they helped me with a tough case against a car rental in the Netherlands, I got all the money, they canceled the card and got me a new one so the merchant could not charge me again.
Wow, I just talked myself out of using the Fidelity CC.
See it at https://www.penfed.org/credit-cards
Other than that I'm not interested in points and/or limited cards and/or gradually increasing cards. Give it to me simple.

This thread is getting flushed down the sewer pretty fast but Old_Joe's home maintenance tip with "thin stuff" is useful. My neighbor spent $5K on sewer line repair because evidently tree roots went into his sewer line just before the sewer line connects to the city's and he had to get it fixed. I did not want to ask the neighbor but I am presuming home insurance covers, subject to deductible, episodes like this. No?

I do not think so. Our neighbor's sewer line broke and fortunately they had insurance through a company called American Water Resources. They were quite difficult to deal with, but in the end they sent someone out to dig up the street and make the necessary repairs.

This thread is getting flushed down the sewer pretty fast but Old_Joe's home maintenance tip with "thin stuff" is useful. My neighbor spent $5K on sewer line repair because evidently tree roots went into his sewer line just before the sewer line connects to the city's and he had to get it fixed. I did not want to ask the neighbor but I am presuming home insurance covers, subject to deductible, episodes like this. No?

I have some EPD an don't mind dealing with the K-1ut I am retired and have plenty of time to figure it out. As stated you can get it online usually a couple of weeks before 4/15
The tax consequences of selling it are complicated but you can figure them out.

Oh, I wasn't talking about Fidelity/Elan. I was thinking, perhaps of one of the AAA cards, though they are provided by Bread Financial/Comenity Bank. That is not well regarded either. So a AAA card may not be a better alternative.
I'm looking for a backup card for foreign travel. Backup means it won't be used frequently but reliability is important. It seems that QuickSilver (Capital One) changed from Visa to MC a couple of years ago. It checks all my boxes.
It pays only 1.5% cash back, but for an infrequently used card a half percent difference isn't important. What does matter is that it has no annual fee or foreign transaction fee. And MC means it complements the Visa card I use for foreign travel. A modest signup bonus ($200) is a small plus. Not to mention half off coffee drinks in their cafes.
Obviously, each person's criteria are different. The Fidelity card works nicely for many.

BIVRX gained 61.2% in 2021, and then followed that up by rising 49.5% in 2022. This "long-short" fund has 6 positive calendar years of gains, 0 negative.
However, in 2024 it is down YTD..... close to (-9%) thus far. It's worth a small allocation to me. Long-short funds are so funky.

Yes, but there is a downside to staying within the 25% MLP limit.

40 Act Funds – RIC Compliant – Less than 25% MLPs
Funds that own less than 25% MLPs do not pay taxes at the fund level, enabling them to pass through the entire return to their investors. The return of capital benefit from owning MLPs is muted due to the limit imposed on MLP ownership. Investors interested in RIC-compliant energy infrastructure funds should research what the fund owns for the other 75%. Common positions include midstream C-Corporations, utility companies, exploration and production companies, refiners, and MLP affiliates structured as C-Corporations.
Advantages:

• Ownership of the underlying securities
  
• Little to no tracking error

Disadvantages:

• Generally lower yield

https://etfdb.com/index-education/mlp-investing/

@racqueteer : "playing the odds" Sell in May & go away ?

Definitely not. First of all, I'm not sure this axiom is even valid. Secondly, algorithms are often based around market axioms. This has to be a situational decision. We've had all manner of bad news, and, despite everything, we've held up. We're coming off a downturn. I think there's at least a slight upward bias at this point. I think you can safely be a little bit bullish here. Not crazy, though.
So, I'm a tiny bit (5%) above my 'normal' equity allocation and have barbelled LCV with LCG momentum stuff. Paired that off with very safe USFR earning a solid 5+% day in and day out. If things change, I adjust around my core positioning. I'm not going to knock it out of the park, but I hope to also not lose a lot in a downturn.

Difficult to stay patient sitting on an unfilled Limit Buy Order when Mr. Market is rising and rising..... But it cannot go on forever upward in a straight line. Behavioral Economics. Beware of FOMO.

@Crash - You’re more patient than me. I fiddle for 5 or 10 minutes and than cancel the order. Don’t like uncertainty. One reason I’ve moved mostly to open end traditional funds is to get away from this minute by minute game.
I don’t know about “sell in May.” But ISTM that when a major index approaches a milestone (in this case Dow 40,000) that it will often move back & forth crossing that number several times in the ensuing months. Just a vague recollection.
Bloomberg reports that the DJI briefly crossed over 40,000 this morning before pulling back. You can say milestones don’t matter. Perhaps. But the public psyche is important (near term anyways) to markets and a milestone does mess around with psyche.

I bit the bullet and bought into an MLP NOT in my IRA. I don't like waiting for the k-1, but the stock is worth the "hassle." The company lets you sign-in to access the k-1 before it comes in the mail. THIS year, the k-1 came atrociously late via the USPS.

Consider yourself lucky. The K-1 filing deadline is March 15th, but companies can request an automatically granted extension to Sept 15th. (Sept 16th this year; Sept 15th is a Sunday.)
https://tax.thomsonreuters.com/blog/what-is-schedule-k-1
https://www.irs.gov/pub/irs-pdf/p509.pdf

If any fund (mutual fund, closed-end fund, or ETF) owns more than 25% MLPs, the fund will be taxed as a corporation. Accordingly, there are two types of MLP funds – those structured as RICs, which own up to 25% MLPs, and those structured as corporations (or C-Corp funds), which tend to be 90-100% MLPs.

https://www.etftrends.com/energy-infrastructure-channel/beyond-the-k-1-tax-treatment-for-an-mlp-fund-vs-an-mlp/
MLPFX is of the latter type. Thus, like and individual investor in an MLP, it owes taxes on income generated by the MLP. The tax gimmick in MLPs is that their dividends are treated as returns of capital. So one does not owe taxes immediately on this income. MLPFX passes these ROCs through to its investors.
Ultimately the tax bill comes due. The return of capital reduces the cost basis of an MLP so that when it is sold, the gain is not based on the purchase price but on the purchase price minus the "tax-free" divs received. Since MLPFX is taxed as a corporation, it will owe those taxes.
"Upon a Fund’s sale of a portfolio security, the Fund will be liable for previously deferred taxes."
Prospectus
These deferred tax expenses are reported as expenses of the fund as they are accrued, i.e. at an estimated rate of 5.44% per year. That's the cost of creating a wrapper fund to convert MLP K1s into 1099s.

One disadvantage of investing in a C-Corp fund instead of individual MLPs is the potential for tax drag to weigh on fund performance relative to its underlying holdings. C-Corp funds accrue a deferred tax liability for the portion of distributions considered to be a tax-deferred return of capital and for gains in underlying holdings.

ETFtrends (cited above).
Aside from Fidelity Treasury Portfolio, I can't find any underlying funds in the portfolio.

Invesco website says 5.44% comes from underlying funds - holdings look a mix of funds and individual MLPs. Why would there be funds within anything called "Select".
https://www.invesco.com/us/financial-products/mutual-funds/product-detail?audienceType=Investor&fundId=32052

Apart from a Fidelity MMF (which can't be THAT expensive!) I don't see any funds in their Portfolio holdings. Just straight equities from what I can tell.

Invesco website says 5.44% comes from underlying funds - holdings look a mix of funds and individual MLPs. Why would there be funds within anything called "Select".
https://www.invesco.com/us/financial-products/mutual-funds/product-detail?audienceType=Investor&fundId=32052