Hi all, I have a fairly large sum of money that has been sitting in my Chase savings account, and I want to gain some returns on that money, or at least keep up with inflation, without the risk of investing.
To keep things consolidated in Chase I am thinking of opening a brokerage account with them, put my money minus six month emergency fund into a MMF.
My understanding is the rates would not be far off from an HYSA, but circumvent state taxes unlike an HYSA (I live in California). I am aware this is not FDIC insured, and there may be a delay in transferring the funds to my checking/savings.
Are there better options for this money that still accomplish the same goals (same platform, virtually zero risk, minimizes taxes)?
Please let me know if there are other benefits/downsides to this strategy I may not be aware of, thank you so much!