- RIAs can now benefit up to 12x higher yields* and 2x more insurance than other marketplace offerings**
Apex Fintech Solutions (“Apex”), the fintech for fintechs powering innovation and the future of digital wealth management, today announced that its Apex FDIC Sweep Program is now offering 4.25% yield* to advised accounts, which is up to 12x greater than other available offerings in the marketplace. The program also now has double the insurance coverage, now up to $5m per account**.
The Apex FDIC Sweep Program is an interest-bearing deposit program offered to Apex Advisory clients. It enables registered investment advisors (RIAs) to provide clients with the opportunity to earn returns on their cash. As investors show an increased interest in safety and stability, the Apex FDIC Sweep Program provides advisors with a simplified way to deliver value to clients in the form of higher yields, higher FDIC insurance and instant liquidity.
“RIAs are working hard to reassure investors in an uncertain and seemingly unpredictable environment. Skittish investors are also chasing yield. We’re empowering RIAs with a way to bring value back to these investors,” according to Megan Hausmann, Senior Director of Advisory Success at Apex Fintech Solutions.
The Apex FDIC Sweep Program turns stable balances into RIA benefits by:
- Providing up to 12x greater yields - Apex offers 4.25% vs .35% at other custodians*
- Doubling insurance coverage - now up to $5m per account**
- Enabling additional liquidity - Investors can access additional liquidity while a CD is still maturing
- Eliminating hassle - no need to move cash in and out of money market funds or bank CD’s to get current yields
To learn more about how RIAs can take advantage of Apex’s FDIC Sweep program, contact mgreen@apexfintechsolutions.com.
* “12x Higher Yields” compares our 4.25% interest rate to TD Ameritrade’s published cash sweep interest rate of 0.35%.
** “2x More Insurance” refers to our program increasing FDIC insurance coverage from the previous maximum of $2.5M to the current $5M.
Please note: Interest rates as of 5/3/2023. Rates are subject to change without notice.
About Apex Fintech Solutions
Apex Fintech Solutions is a fintech powerhouse enabling seamless access, frictionless investing, and investor education for all. Apex’s omni-suite of scalable solutions fuel innovation and evolution for hundreds of today’s market leaders, challengers, change makers, and visionaries. The Company’s digital ecosystem creates an environment where clients with the biggest ideas are empowered to change the world. Apex works to ensure their partners succeed on the frontlines of the industry via bespoke custody & clearing, advisory, institutional, digital assets, and SaaS solutions through its Apex Clearing™, Apex Advisor Solutions™, Apex Silver™, and Apex CODA Markets™ brands.
For more information, visit the Apex Fintech Solutions website: https://www.apexfintechsolutions.com.
Important Information:
The FDIC insures deposits up to $250,000 per depositor per bank, for each ownership category. For additional information visit https://www.fdic.gov/deposit/deposits/faq. Apex Clearing Corporation, a wholly-owned subsidiary of Apex Fintech Solutions Inc., is an SEC registered broker dealer, a member of FINRA and SIPC, and is licensed in 53 states and territories. Securities products and services referenced herein are provided by Apex Clearing Corporation. FINRA BrokerCheck reports for Apex Clearing Corporation are available at: http://www.finra.org/brokercheck. Commodity futures and options on futures products and services referenced on this site are provided by Apex Clearing Corporation, a CFTC and NFA registered futures commission merchant. NFA BASIC reports for Apex Clearing Corporation are available at: https://www.nfa.futures.org/basicnet. The availability of products and services may vary by country. Nothing on this herein is an offer to sell or a solicitation of an offer to buy securities, products, or services by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Any company stocks and ticker symbols that appear on this herein are for illustrative purposes only and do not constitute a recommendation for a particular security. All investments carry risks. Investment returns will fluctuate and are subject to market volatility. An investor’s shares, when redeemed or sold, may be worth more or less than their original cost. You should consider your investment objectives, the risks involved, and consult with your investment and/or tax professional about your specific circumstances prior to making an investment decision.
The availability of products and services may vary by country. Nothing herein is an offer to sell or a solicitation of an offer to buy securities, products, or services by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. The summary data in this report is composed of specific types of accounts that met certain criteria that clear through Apex (e.g., self-directed individual accounts within a certain age range at a particular point in time). Any company stocks and ticker symbols that appear herein are for illustrative purposes only and do not constitute a recommendation for a particular security. All investments carry risks. Investment returns will fluctuate and are subject to market volatility. An investor’s shares, when redeemed or sold, may be worth more or less than their original cost. You should consider your investment objectives, the risks involved, and consult with your investment and/or tax professional about your specific circumstances prior to making an investment decision.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230502005369/en/
Contacts
Madison Perrott, apex@fullyvested.com
