Flourish Hits $2 Billion AUC Milestone in Record

Financial Advisors

NEW YORK, April 18, 2023 (GLOBE NEWSWIRE) — Flourish, a platform that provides innovative access to financial products to help Registered Investment Advisers (RIAs) secure their clients’ financial futures, today announced the launch of its product suite and Integrated partner ecosystem. The company currently boasts over $2 billion in assets under custody (AUC) and over 550 of his RIA companies on the platform.

As interest rates rise, Flourish Cash,1 Flourish’s cash management solution, built specifically for RIAs, has driven Flourish’s growth over the past several quarters by offering clients competitive interest rates and high FDIC insurance through its program bank. Flourish Cash’s customer base has tripled in the last 5 quarters from Jan 1, 2022 to Mar 31, 2023, and Flourish Cash’s customers have benefited from his 9 interest rate increases. Earned tens of millions of dollars in interest. Our current rate is 11x* the national savings account average, updated at https://www.flourish.com/clients/cash.

RIA and its clients will benefit from the upgrade to both Florish Cash and Flourish Crypto.2 A turnkey, direct-owned cryptocurrency investment solution. These include:

  • Recurring Transfers: Recurring Transfers prioritize savings goals by allowing Florish Cash clients to automate savings allocations on a regular basis.
  • Recurring Purchases: Flourish Crypto clients can set up automated cryptocurrency purchases to invest in cryptocurrencies using dollar cost averaging.
  • Client Onboarding: New Flourish clients will experience less friction through onboarding with newly created efficiencies that make it easier for clients to open and fund accounts.
  • Advisor Resource Center: A self-service access point for co-branded fact sheets, marketing templates, operational guides, client invitation statuses, and more to put advisors at their fingertips.
  • Instant Transfers: Clients can instantly transfer funds between accounts, ready to trade
  • Flourish Cash Business Accounts: The Flourish Cash advantage (the ability to earn competitive interest rates with unlimited withdrawals) is available to small businesses and nonprofits with expanded FDIC insurance coverage through a $1.5 million program bank. available to groups.3
  • Additional Program Banks and Enhanced FDIC Insurance: Flourish’s program banks now include TriState Capital Bank and Associated Bank, allowing Flourish Cash customers to benefit from increased FDIC insurance .account and two personal accounts
  • Redtail Integration: From within the Flourish Advisor dashboard, Advisors can use data stored in Redtail to quickly pre-populate client applications and invite clients with the push of a button.
  • ADDITIONAL RESOURCES: Learn more about why it’s important for advisors to talk to clients about their cash holdings with expanded content such as “The Cash Opportunity for Advisors,” an ongoing educational series on all things cash. increase.

Additionally, for the second year in a row, Flourish Cash was rated highest for cash management and crypto services in the 2023 T3 Insider Information Advisor Software Survey of over 3,300 members of the financial planning and investment advisor community.Four

“Interest rates have risen significantly in the last 12 months, allowing Americans to earn more in cash,” Flourish CEO Max Lane said. With an average household balance of $183,219 for $10,000 to $2,000,000 clients, clients can earn over $7,000 in interest annually to cover vacations, tax payments, or advisory fees for the year It’s a compelling business case and a key moment to make sure customers have cash on hand.”

Over 550 RIAs collectively managing over $1.5 trillion in assets trust Flourish to get more assets on track. With the Flourish platform, advisors can highlight their branding, offer discretion or offers as a client-driven account, provide client-friendly marketing materials, robust and customizable compliance resources, white-glove support, and more. You can

Flourish is wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual).

About Flourish
Flourish builds technology that empowers financial advisors, improves financial life and retirement outcomes, and provides advisors with new and innovative investment options. Currently, the Flourish platform supports over $2 billion in assets under custody and is used by over 550 wealth managers with over $1.5 trillion in assets under management. Flourish is wholly owned by MassMutual. For more information, please visit www.flourish.com.

Forward-Looking Statements
This press release may contain forward-looking statements that involve certain risks and uncertainties. Actual results, performance or achievements may differ materially from those expressed or implied.

Media Contact:
Marissa Arnold of Flourish

Flourish is an online platform that allows investors to access financial services and products. Services and products offered through Flourish are provided by different entities and are subject to different terms, investor protections and risks. Flourish Cash is provided by Flourish Financial LLC, a registered broker-dealer. Finla member. Flourish Financial LLC is not a bank. Check out the background of Flourish Financial LLC and its employees at FINRA. broker checkFlourish Crypto is powered by Paxos Trust Company, LLC (Paxos). Paxos Trust Company, LLC (Paxos), regulated by the New York Department of Financial Services, is a New York limited-purpose trust company that provides cryptocurrency custody and execution services to Flourish Crypto accounts and Flourish Digital Assets LLC (Florish Digital Assets LLC). Digital Assets) is registered as a Commodity Broker-Dealer in New York and provides website and other technology services and support for Flourish Crypto accounts. Flourish Financial LLC and Flourish Digital Assets LLC are affiliates, but are not affiliates of Paxos.Please Confirm legal Please refer to the sections of our website and disclosures provided with each Flourish service or product for more information regarding each service and product. If you are referred or invited to her Flourish by a third party investment advisor or other third party whose name or logo may appear above, they will Please note that I am not affiliated with any entity. The role of the investment advisor or other company that invited you to her Flourish may vary with Flourish’s services and products, as detailed in the terms of each service or product. © 2023 Flourish. All rights reserved.

*Federal Deposit Insurance Corporation, National Deposit Rate: Savings [SNDR]FRED, obtained from the Federal Reserve Bank of St. Louis. https://fred.stlouisfed.org/series/SNDRMarch 27, 2023

1 A Flourish Cash account is a brokerage account offered by Flourish Financial LLC. Flourish Financial LLC is not a bankThe cash balance in your Flourish Cash account is deposited from your intermediary account to one or more third party bank accounts that have agreed to accept deposits from customers of Flourish Financial LLC (Program Bank). Program bank accounts pay a variable interest rate. Check out the background of Flourish Financial LLC and its employees at FINRA. broker check.

2 Flourish Crypto is a cryptocurrency investment account that allows investors to trade cryptocurrencies and maintain custody of cryptocurrencies and US dollars. The custody of Flourish Crypto accounts, including all assets in the accounts, and cryptocurrency trading services are provided by Paxos Trust Company, LLC (Paxos Trust Company). Paxos terminologyPaxos is a New York Limited Purpose Trust Company regulated by the New York Department of Financial Services. Website and other technology services and support for Flourish Crypto accounts are provided by Flourish Digital Assets LLC (Florish Digital Assets). thriving crypto termsFlourish Digital Assets is registered as a Commodity Broker-Dealer in New York. Investment options for Flourish Crypto accounts are currently limited to Bitcoin and Ethereum. Cryptocurrencies held in Flourish Crypto accounts are currently not eligible for physical transfer to other custodians or cryptocurrency wallets. If the Flourish Crypto account is closed, the client’s cryptocurrency positions will be liquidated and the client will receive US dollar earnings. Investing in cryptocurrencies carries a high degree of risk. Paxos terminology and the thriving crypto terms.

3 Cash balances in Flourish Cash accounts that are swept to one or more Program Banks are covered by FDIC insurance in accordance with FDIC regulations, including FDIC insurance coverage limits. FDIC insurance is not provided until funds arrive at the program bank. There are currently at least six program banks that can accept deposits for institutional Flourish Cash accounts (accounts of corporations, partnerships, and other legal entities) and individual Flourish Cash accounts (individual, joint, and revocable trusts). There are at least six program banks that can accept deposits of In addition, if there are more banks in the Program, we are under no obligation to allocate your funds to more than this number of Program Banks. A customer is generally covered by his FDIC insurance of $250,000 per customer, per program bank, per account ownership category. Accordingly, institutional customers are eligible for up to $1,500,000 in FDIC insurance, and individual customers are eligible for up to $1,500,000 in FDIC insurance for either (i) (A) personal accounts or (B) revocable living trust accounts. I am eligible for insurance. The individual is the sole grantor, trustee and beneficiary of the trust (“individual revocable trust account”), and (ii) (A) a joint account with two owners, or (B) revoked FDIC insurance of up to $3,000,000 for any of the Potential Trust Accounts A living trust in which the same two persons are each the sole grantor, trustee and beneficiary of the trust (“Joint Revocable Trust Account”). Her total FDIC coverage for a two-person household is calculated assuming each household member has an individual account and both household members share a joint account. Account opening if the number of Customer’s Program Banks is reduced (because the Program Bank no longer participates in Flourish Cash and thus Customer’s Cash is not eligible to be swept into the Program Bank based on criteria set by the Program Bank); (if disclosed at the time), or because the customer has opted out of clearing cash to a particular program bank), the amount of FDIC insurance to which the customer is eligible through Florish Cash will be lower. Generally, all customer deposits with program banks in the same ownership category (including deposits held outside of Flourish Cash or through multiple Flourish Cash accounts in the same ownership category) are Counts toward FDIC insurance limits for deposits at program banks. Customer is responsible for monitoring whether it maintains deposits in program banks other than Flourish Cash and opts out of sweeping cash into such program banks to avoid exceeding FDIC insurance limits. should be considered. Flourish Cash is offered through brokerage accounts, and cash held in brokerage accounts often benefits from SIPC protection, but until the Company offers a securities product, customers are advised that it is not held in their Florish Cash accounts. You may not be able to enjoy the benefits of SIPC protection for your cash. Additionally, SIPC protection is not available for cash held in program banks.You can find the current program bank hereFor additional information regarding FDIC coverage, please visit: https://fdic.gov.

4 This feedback may not be representative of other customers’ experiences and does not guarantee future performance or success. Flourish did not offer any compensation in exchange for this recognition. The study was conducted independently without Flourish’s control over methodology and sample size.


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