Flourish Achieves Milestones with Growth in RIAs and AUC

Flourish Surpasses Major Financial Milestones

Flourish, a leading platform for registered investment advisors (RIAs), has achieved significant milestones, surpassing $6 billion in assets under custody (AUC). In addition, the platform now serves over 900 RIAs, demonstrating its growing popularity in the financial advisory sector. This impressive growth reflects Flourish's commitment to helping advisors execute comprehensive financial plans that secure their clients' financial futures.

Enhanced FDIC Coverage for Flourish Cash Clients

In an effort to provide unparalleled security for its clients, Flourish has increased FDIC insurance coverage up to $24 million for two-person households through a network of Program Banks. This expanded coverage significantly enhances client protection, allowing them to secure more of their assets while managing their financial needs more effectively. Flourish Cash, the company's cash management solution, is designed specifically for RIAs, providing them features that streamline cash management for their clients.

Impressive Growth in Interest Earnings

Flourish Cash has shown remarkable growth, with clients collectively earning over $230 million in interest over the previous year. This achievement not only signifies the effectiveness of Flourish Cash as a viable cash management tool but also highlights the company's dedication to maximizing the financial returns for its clients. The continual enhancements to their offering aim to make Flourish an integral part of the RIA technology stack.

Strong Partnerships and Integrations

Flourish is also focused on developing strategic integrations with industry-leading platforms such as eMoney, RightCapital, and Salesforce to enhance the overall user experience for advisors. These integrations are crucial to the success of Flourish Cash, which has earned a high WealthTech Integration Score of 8.25, significantly above the median score of 4.35 for ranked providers.

New Additions to the Flourish Cash Program Banks

The Flourish Cash platform continues to evolve, with nine new banks joining its Program Banks. This expansion boosts the FDIC insurance coverage available to clients, allowing two-person households to access up to $24 million in FDIC insurance through various accounts. With individual, business, and nonprofit accounts earning up to $6 million, and joint accounts offering coverage of up to $12 million, Flourish demonstrates a strong commitment to asset protection.

Acknowledgments and Awards

Flourish's contributions to the financial advisory space have not gone unnoticed, with the firm being recognized as the Best WealthTech Digital Solution Provider by the BankingTech Awards. Flourish's focus on integrating cash management into holistic financial strategies elevates the service provided by advisors, allowing them to engage more deeply with their clients.

Improvements to Client Management Processes

In addition to its financial services enhancements, Flourish has also made significant improvements to its client management processes. These enhancements simplify the relationship management process for advisors, allowing them to better understand their client's needs, sort and prioritize referrals, and ensure a smooth onboarding experience. By providing advisors with enhanced usability tools, Flourish empowers them to build stronger relationships with their clients.

Continued Demand for Flourish Annuities

Flourish Annuities, a pioneering annuity solution tailored for RIAs and their clients, is also experiencing increased demand. With numerous RIAs onboarding and forming partnerships with carriers, this platform plays a crucial role in the company’s growth. The ability to migrate existing annuity plans onto the Flourish platform enhances visibility and management flexibility for advisors.

Building a Comprehensive Financial Advisory Network

Over 900 registered investment advisors managing more than $1.6 trillion in assets are utilizing Flourish to execute financial plans effectively. Flourish aids RIAs in transitioning from providing traditional financial advice to implementing actionable strategies that bring more assets into their advisory fold. The ability to brand their firms uniquely and deliver tailored marketing materials strengthens Flourish's appeal to today’s forward-thinking advisors.

Frequently Asked Questions

What milestones has Flourish recently achieved?

Flourish has surpassed $6 billion in assets under custody and now serves over 900 registered investment advisors.

What is Flourish Cash?

Flourish Cash is a cash management solution designed specifically for RIAs, offering increased FDIC coverage and significant interest earnings.

How does Flourish enhance client management?

Flourish has implemented improvements that provide advisors with better tools for managing client relationships and onboarding processes.

What recognition has Flourish received?

Flourish was recently named the Best WealthTech Digital Solution Provider, showcasing its innovation and contributions to the financial advisory industry.

How can Flourish Annuities benefit RIAs?

Flourish Annuities offers a comprehensive solution tailored for RIAs, making it easier to manage existing client annuity plans and enhancing overall visibility.

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