Hi
Well it depends, i dont know about yellow labs but my convict cichlids are breeding and they were doing really well because since convicts are really aggressive already, they became way more aggressive once the fry start swimming about. So they were really good parents, even the yellow belly slider turtle we have with them gets pushed away from the babies. Do the babies stay with the mother and father in a group because with the convicts they are all in a big group of 80 and they just follow their parents, if one swims off too far from the group then the parents bring them back by grabbing them with their mouth.
However i have put the fry into a seperate 30 litre tank, which they are in another small breeding net so that it is easier to feed them, then when they get more bigger i will just let them out into the 30 litre tank. The reason why i did take them out as the convicts were getting way too aggressive because my yellow lab was getting ragged to pieces and all the other fish were getting stressed out.
The fry was easy for me to catch because they stayed in a group and i kust swooped them all into a 6" net.