NEW YORK, Aug. 7, 2024 - StoneCastle Cash Management, LLC, (d/b/a "StoneCastle") today announced that it has partnered with Mariner, a privately held national financial services firm, to offer Mariner's clients a high-yield, insured deposit solution for non-custodial cash. With high net worth, business, nonprofit and trust clients holding trillions of dollars in deposits on the sidelines sitting uninsured or grossly underperforming relative to the risk-free rate, the decision to provide clients with access to a better savings account is not only timely, but prudent.
Mariner's inclusion of StoneCastle's Federally Insured Cash Account (FICA) sends clients a strong message that prioritizing safety and liquidity in cash, while staying above headline risks, is paramount.
"We are thrilled to bring StoneCastle to our advisors as a solution for their clients' held-away/savings cash, which is a natural complement to our insured sweep platform," said Chad Hamilton, Senior Vice President of Practice Management at Mariner. "Cash should be a riskless asset class, and when you can offer high net worth, business, and even institutional clients, up to $100 million in federal deposit insurance with a competitive rate, it gives our clients access to more sophisticated and proven solutions."
StoneCastle's institutional cash expertise has become mainstream in the advisory space over the past several years. "Cash continues to be a foundational asset class in all wealth plans," said Dan Farrell, CEO of StoneCastle. "We are privileged to work with a partner like Mariner that is laser focused on giving all clients, regardless of portfolio size, access to solutions they can't obtain elsewhere."
About Mariner
Mariner is a privately held, national financial services firm equipped with the experience to meet your modern wealth needs. Our advisors have access to in-house expertise covering everything from tax, estate, trust, and insurance to investment banking and valuation, so they can maximize time spent creating unified wealth plans with clients. By opening more windows of wealth, we create opportunities to positively impact the lives of many. With this purpose, we intend to raise the bar for the entire industry. Founded in 2006 with $300 million in assets under advisement, Mariner and its affiliates now advise on over $245 billion in assets as of 6/30/24. Learn more at www.mariner.com.
About StoneCastle
StoneCastle is the creator and program administrator of the FICA program. StoneCastle, along with its affiliates, has more than 15 years of cash management experience with some of the world's most recognizable brands, including Fortune 500 companies, universities, endowments, public funds, foundations, family offices, and hundreds of RIA firms representing thousands of depositors. It boasts one of the largest insured depository institution networks in the country.
SOURCE StoneCastle Cash Management, LLC
