... clients who hold cash are moving to FDIC insured aggregation accounts.
There are a few services that offer FDIC insured account aggregation across many banks thus allowing for FDIC coverage for several million dollars from a single depositor. We discovered a custodial cash management account that has simplified the complex task of earning higher interest rates while not exhausting FDIC insurance limitation and is liquid. The custodial account is available for deposits over $1 million. This account is available to corporations, endowments, foundations, pensions, institutional investors. It is quite possible to have FDIC coverage in the $10’s of millions. Just to be clear, we earn a placement fee which does not impair the net crediting rate. If this is interesting to you or your firm send an email to
BavelasGroup LLC, and we will send along the details.
