May 8, 2023 - Last Updated: Dec 4, 2023
DALLAS, May 08, 2023 –(BUSINESS WIRE)–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 CDs 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.