Buckingham Strategic Wealth Partners with Flourish for Cash Management
NEW YORK, Jan. 14, 2020 /PRNewswire/ -- Flourish, a platform for financial advisors, today announced a partnership with Buckingham Strategic Wealth to offer Flourish Cash1 as a cash management option for Buckingham’s advisors and their clients. Clients of Buckingham Strategic Wealth now have access to a competitive variable rate on their cash, high levels of FDIC coverage through Flourish Cash’s Program Banks,2 and a modern and streamlined user experience.
“The households that use Flourish hold more than $250K in the bank on average,3 and we built Flourish Cash to ensure that advisors at leading independent firms like Buckingham have a solution for those dollars. We are thrilled to partner with Buckingham to deliver that solution and to improve clients’ financial lives,” said Yan Zhao, CEO of Flourish. “We clearly see how focused Buckingham is on not only bringing the best technology to their advisors and clients, but on doing so in a thoughtful way that integrates with existing technology and makes the experience seamless for advisors.”
Flourish worked with Buckingham to integrate the platform into advisors’ existing technology stack. Advisors can invite clients to Flourish via their CRM (Salesforce) and, once an account is opened, the Flourish Cash balances are automatically mapped to the correct household and fed directly into advisors’ reporting in Orion.
“We want to make sure that our advisors have access to a broad array of tools that address every aspect of clients’ financial lives. We view having a cash management solution as a powerful and highly complementary addition to the suite of tools and products available to our clients today,” said Rob Ziliak, Chief Experience Officer, Buckingham Strategic Wealth. “Flourish is an industry leader in delivering a simple and clean user experience that belies the power of what’s under the hood. We are excited about the partnership and look forward to working with them as they continue to build out Flourish Cash and the Flourish platform.“4
Flourish aims to be an industry leader in building technology to empower financial advisors, improve financial lives and retirement outcomes, and deliver new and innovative investment options. Flourish Cash, part of the Flourish platform, is a service offered by Stone Ridge Securities LLC, a registered broker-dealer based in New York, NY. Today, Flourish Cash is used by more than 175 wealth management firms representing more than $450 Billion in assets under management. Since launch, Flourish Cash has experienced 58 consecutive weeks of deposit growth. For more information, please visit www.flourish.com, or follow our news and insights at Flourish Insights.
Kelly Brewster, Head of Client Strategies
About Buckingham Strategic Wealth
Founded in 1994, Buckingham Strategic Wealth helps individuals, businesses, nonprofits, retirement plans, and dental and professional practice owners achieve their most important goals by building comprehensive, evidence-based financial plans. Its investment philosophy is rooted in an academic approach tailored to address each client’s distinct willingness, ability and need to accept market risk. As a registered investment advisor (RIA) firm, Buckingham operates under a fiduciary obligation to its clients. The firm’s investment approach centers on modern portfolio theory implemented through passively managed mutual funds and the firm’s fixed income portfolio design and execution capabilities. Buckingham Strategic Wealth is headquartered in St. Louis, Missouri, and maintains 35 offices in 21 states. For more information, visit www.buckinghamadvisor.com.
1 A Flourish Cash account is a brokerage account offered by Stone Ridge Securities LLC, a registered broker-dealer and FINRA member. Flourish Cash is not a bank account, but the cash balance in a Flourish Cash account is swept from the brokerage account to deposit account(s) at one or more third-party banks that have agreed to accept deposits from customers of Stone Ridge Securities LLC (“Program Banks”).
2 The cash balance in a Flourish Cash account that is swept to one or more Program Banks is eligible for FDIC insurance, subject to FDIC rules, including FDIC aggregate insurance coverage limits. FDIC insurance will not be provided until the funds arrive at the Program Bank. For additional information regarding FDIC coverage, please visit https://fdic.gov/.
3 Average Flourish Cash household balance as of December 30, 2019. Excludes households with no Flourish Cash accounts and those with zero-balance accounts.
4 This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success.
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