Chalice Insured Savings Account
A smart way to attract held-away assets and create value for HNW and UHNW clients.
Are your clients complaining about extremely low-interest rates on cash balances in their brokerage accounts? Do your clients have large cash deposits at banks, barely earning any interest on their savings? Now you can be an instrumental part of the solution for your clients.
The Chalice Insured Savings Account is a liquid, position-traded high-yield savings account that provides up to (a) $25 million in FDIC insurance per account, (b) offers a competitive rate compared to online bank accounts/money funds/treasuries, and (c) has no credit risk as deposits are backed by the full faith and credit of the U.S. government. Powered by our Strategic Partner, Stonecastle, you can now have access to the expertise of a leading institutional insured cash administrator.
Exclusive benefits available only to Chalice Network members
- Reduced minimum account opening deposit of $250,000; down from $1,000,000
Key benefits of having a Chalice Insured Savings Account:
- Attract new clients and held-away cash (avg. HNW/UHNW keeps more than 20% of assets in cash)
- FDIC insurance up to $25 million per tax ID (can go up to $100 million per account)
- Yield is more than 20 times greater than the national savings account rate average (bankrate.com)
- Maintains client assets in-house instead of referring clients to a competing online bank
- Withdrawals can be set-up to go directly into clients' brokerage accounts
- Data feeds into all major portfolio management/aggregator software systems; i.e. Orion, Black Diamond, DST, Advent, etc.
- Strengthen/deepen existing relationships/share of client wallet