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Cash Management & Credit Solutions

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Cash Management & Credit Solutions FOCUS CLIENT SOLUTIONS CASH MANAGEMENT & CREDIT SOLUTIONS Overview Opportunity Focus Client Solutions has created a national network Many RIAs are not actively discussing cash management of banking and lending institutions that can provide a strategies with their clients. However, according to a competitive array of cash and credit solutions to help 2019 Capgemini Insights Survey, HNW individuals’ cash Focus partner firms better serve their clients. balances in Q1 2019 represented their single largest In the past, you may have relied on custodians or position, with nearly 28% of their household wealth held community banks to help solve your clients’ cash in cash versus less than 26% held in equities. management or lending needs, which can unduly limit your clients’ options. Now with the breadth and depth of our national network of banks and non-bank lenders, the Focus Client Solutions platform provides access to outstanding 28% >26% cash management and lending solutions which allow you CASH EQUITIES to compete with private banks and wirehouses. Quick Facts Most of this cash is being held in money center banks, typically earning an uncompetitive rate (average savings account is earning only 0.09%) and uninsured beyond $250,000* FDIC reports approximately $6.2 trillion of deposits in U.S. banks are uninsured and approximately $3.6 trillion in deposits earn zero interest* Most custodians and local banks offer limited options for client lending or less competitive terms and pricing. FCS’s open architecture approach provides a solution for each client need. *Source: FDIC.gov, Balance Sheet 1Q 2020 Report NOT FOR USE WITH CLIENTS, PROSPECTIVE CLIENTS, OR THE GENERAL PUBLIC CLIENT PORTFOLIO CASH SOLUTIONS Focus Client Solutions has created Client Portfolio Cash (CPC), a proprietary cash management solution, for Focus Financial Partners and its partner firms. Advisors can exercise trading authority over the cash, with client cash balances reported in the client’s portfolio balances. Additionally, CPC can provide your clients with several value-added cash management benefits including: Competitive rates on cash balances within investment portfolios – currently yielding approximately 0.25% as of September 1, 2020) FDIC insurance of up to $30 million per separate tax ID on cash held at banks in the program (securities and cash held in securities accounts are not FDIC insured) Next-day liquidity on all cash in the account No minimum balances required – at firm or client level Available for personal, trust, business and most retirement accounts Key Features Include A cash management account tailored to your clients’ needs Single account managed through your investment platform Multiple banking relationships to increase FDIC insurance Higher yield than many competing bank and custodian deposit offerings Cash management handled through your firm’s operational platforms, making asset transfers easier NOT FOR USE WITH CLIENTS, PROSPECTIVE CLIENTS, OR THE GENERAL PUBLIC FICA® | FOR ADVISORS Outside Cash Program September 1, 2020 What is FICA? Cash Solutions A high-yield federally insured Recent market volatility and declining interest rates are underscoring the cash account for held-away cash importance of advisors in your clients’ lives. Focus Client Solutions assists you in having the necessary tools to deliver exceptional value through all market environments. We are pleased to introduce StoneCastle’s high yield federally insured cash account, FICA® For Advisors (FICA), as an immediate resource Why FICA? to attract held-away cash and provide a safe and liquid option for your clients’ cash balances. StoneCastle has more than a decade of institutional cash COMPETITIVE RATES experience that is now available to you and each of your clients. No minimum balance up to $25MM 0.25% APY Over $25MM up to Who Uses FICA? $70MM 0.10% APY FICA can be an attractive option for individuals, trusts and businesses that want Over $70MM up to to remove potential risks associated with money market funds, seek higher $100MM 0.00% APY yields than traditional bank accounts, maintain high balances of uninsured deposits at banks/other financial institutions, or that have experienced a recent HIGHEST INSURANCE LEVELS liquidity event. FICA is eligible to be used for non-retirement cash assets. Up to $100 million per tax ID backed by full faith and credit Money Held-away from recently of U.S. government Inheritance/ cash earning HNW/UHNW sold home, transfer of too little/ Individual business, or wealth uninsured at LIQUID other large banks All overnight bank deposits assets with next business day liquidity subject to 3:00 PM ET cutoff 0.25% APY3 FICA Features UP TO $25 MILLION Insurance Up to $100M per tax ID1 Initial Deposit No minimum The FICA Difference Fees None Interest Accrued daily/Paid monthly Liquidity Same day deposits if Capture held-away cash Option to select an Integrated with transactions are completed and optimize existing impact cash solution major data before 3:00 PM ET and next cash balances for clients aggregators day deposits if transactions are completed after 3:00 PM E T. 2 Next day withdrawals. No transaction limits. Credit Risk Deposits backed by Provide a Established tool to attract Simple full faith and credit of U.S. government safe and new assets, accounts, account opening liquid option and qualified referrals experience Bank Network 800+ nationwide Tax Form One 1099 NOT FOR USE WITH CLIENTS, PROSPECTIVE CLIENTS, OR THE GENERAL PUBLIC Resources Available to You Advisors can receive turnkey marketing, sales, and client support. We offer our full support through: Marketing collateral; sample communications; business building ideas; product enhancements/updates Educational webinars or in-person presentations for your entire office Periodic updates on the cash landscape, white papers, or published articles Sales support; large case phone/meeting support; referral strategies About StoneCastle StoneCastle is a leading provider of deposit and liquidity solutions for some of the world’s most recognized brands, including Fortune 500 companies, colleges and universities, endowments and foundations, public funds, family offices, and financial intermediaries. It currently administers more than $25 billion in deposit programs and is backed by Charlesbank Capital Partners and Canadian Imperial Bank of Commerce (CIBC).* *Deposits quoted above are for StoneCastle Cash Management, LLC (StoneCastle) as of 1. Under certain circumstances, balances held in clients’ accounts may not receive FDIC September 1, 2020. Deposits quoted include Bulk Insurance Deposit Services (“BIDS”), insurance. For example, if clients already have any cash at any depository institution that is in a program where StoneCastle acts as a consultant and introduces banks to third-party the FICA® network, then they may not receive full FDIC insurance coverage on their deposits administrators. Assets in BIDS are not included in the calculation of StoneCastle’s regulatory at those institutions if they exceed applicable limits. Funds may be submitted for placement assets under management noted in its Form ADV. only after a depositor enters into a FICA® agreement. The agreement contains important information and conditions regarding the placement of funds. All information contained herein is for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation or recommendation to purchase 2. Liquidity is on a next business day basis. Same day purchase credit and next day liquidity any security. redemptions are subject to a 3:00 PM ET cutoff (direct). Please read the FICA® Program Terms and Conditions for more complete information and the governing terms of the account FICA® For Advisors satisfies the FDIC’s requirements for agency pass-through deposit (including liquidity, terms, etc.). insurance coverage. Program banks in the network are FDIC-insured “banks” as defined in the Federal Deposit Insurance Act. The limit on FDIC insurance is $250,000 per depositor 3. Yield is effective as of September 1, 2020 and is for a maximum deposit of $25 million. per bank. Balances in excess of $25 million will receive a blended rate. Current yield and maximum deposit insurance coverage is indicative for FICA® and may be lower or higher than what StoneCastle is the program Administrator. StoneCastle is not a bank, nor does it offer bank is stated due to changes in market or business conditions. Past performance does not deposits, and its services are not guaranteed or insured by the FDIC or any other governmental guarantee future results. Interest rate earned may vary based on the size of the account agency. StoneCastle is an investment adviser registered with the United States Securities and balance and the introducing party. Please contact StoneCastle for the most current yield and Exchange Commission (SEC). For more information regarding the firm, please see its Form maximum deposit insurance coverage. ADV Part 1 and 2A on file with the SEC. Registration with the SEC does not imply a particular level of skill or training. FICA® is a registered trademark of StoneCastle. FICA® For Advisors (“FICA®”) is not a member of The Federal Deposit Insurance Corporation (FDIC), but the depository banks where client money is placed are FDIC members. The FDIC is an independent agency of the U.S. government that protects the funds depositors place in FDIC insured institutions. FDIC deposit insurance is backed by the full faith and credit of the U.S. government.
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