New York: Family Management announces selection of Liquid Insured Deposits SM for client cash deposits maintained within Family Management brokerage accounts.
Liquid Insured Deposits SM protects the cash portion of client portfolio holdings with high levels of FDIC insurance while earning a competitive rate of interest on the cash. A key feature of the offering is the access to several times the standard FDIC protection limit, up to $2.5 million, due to a daily sweep and innovative modelling technology that allocates the deposits amongst one or more program banks. The cash balance, whether savings or temporary liquidity pending investment opportunities, is accessible at any time and is not subject to the market risks associated with money market mutual funds.
“At Family Management we are always looking for ways to protect and enhance our clients’ portfolios; this offering combines increased protection through the FDIC insurance with a competitive rate of interest for our clients’ cash deposits,” said Andrea Tessler, managing director.
Family Management provides financial counsel to families, high net worth individuals, and not-for-profit organizations. Affiliates include Family Management Corporation, a New York-based registered investment advisor, Family Management Securities, LLC, a FINRA-registered broker-dealer, and Forest Hill Capital Corporation, a New York State licensed insurance agent. For more information please call your financial advisor at Family Management.
Liquid Insured Deposits SM is a Reich & Tang Deposit Solutions, LLC product.