:Reich & Tang Insured Deposits
Reich & Tang Insured Deposits is a leading expanded FDIC-insured sweep program that enables your clients to protect their cash holdings with up to $2.5 million of FDIC insurance. With cash allocations and the demand for FDIC insurance at their highest level in decades, Reich & Tang Insured Deposits ensures your firm remains competitive in its offerings, provides a tool for financial advisors to gather assets, and meet your clients' demand for FDIC insurance.
Reich & Tang Insured Deposits
- 10 times the standard FDIC limit—up to $2.5 million in FDIC achieved by allocating customer deposits among several participating program banks
- Flexibility—Available to all account types, including individual, joint, business, IRA, UGMA/UTMA, and trust account holders
- Daily liquidity—Cash is available when needed for trades or other investment opportunities, or when using debit cards, checks, ATMs, and wire transfers. Funds are always accessible and there are no penalties for withdrawals
- Convenience—Consolidate your client's multiple banking and brokerage relationships into a single account with your firm
This operationally flexible program enables your firm to offer a set rate to your clients or create a potentially more profitable tiered-rate program that also rewards your best customers. Either way, financial advisors will have an asset gathering tool proven to attract and retain coveted high-net-worth individuals, retirees, and business clients.
Our experienced professionals and Relationship Management Team will work with you to develop a structure that offers the best features for your organization—and, as you grow, we will help you manage your needs every step of the way.
For additional information about Reich & Tang Insured Deposits, contact us today at 888-488-7347 or email us at clientsupport@rnt.com.
Reich & Tang Insured Deposits is not a money market fund. Funds maintained in Insured Deposit Sweep Accounts at each participating bank are insured up to $250,000 by the FDIC for each category of legal ownership, including any other balances your client may hold directly or through other intermediaries for a total of up to $2,500,000 of FDIC insurance.