The primary advantage to the investor of a securities firm cash management account (CMA)over commercial bank deposit accounts is that

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The primary advantage of a securities firm CMA is that it allows investors to easily buy and sell securities using funds from the CMA. This added convenience is not typically available with commercial bank deposit accounts. While CMAs may not have FDIC insurance, they are still regulated by the SEC and FINRA to ensure compliance with industry standards and protect investors. Additionally, the rates of return on CMAs may not necessarily be higher than those offered by money market deposit accounts.

The Primary Advantage to the Investor of a Securities Firm