NEW YORK and BOSTON, July 13, 2016 – Today, Capital Advisors Group, Inc. announced the launch of the Capital Advisors Group Insured Liquidity AccountsSM in partnership with StoneCastle Cash Management, LLC (‘StoneCastle’). By utilizing StoneCastle’s Federally Insured Cash Account (FICA®) platform, the new Capital Advisors Group Insured Liquidity AccountsSM will have access to deposit insurance, backed by the full faith and credit of the U.S. Government, on up to $60 million in deposits with next-day liquidity.
“Institutional cash managers who face regulatory and market uncertainty from banking and money market fund reforms are seeking alternatives to prime money funds and traditional bank deposits,” said Ben Campbell, CEO and founder of Capital Advisors Group. “Capital Advisors Group’s partnership with StoneCastle will enable us to provide Capital Advisors Group Insured Liquidity AccountsSM, which are designed to help clients meet their objectives of safety of principal, liquidity and competitive yield.”
A Family of Separate Account Services
Campbell said the new Capital Advisors Group Insured Liquidity AccountsSM will extend Capital Advisors Group’s range of services, which also include Capital Advisors Group Liquidity AccountsSM, Intermediate Accounts and one- to three-year accounts, providing cash managers with a range of custom separately managed account investment solutions.
“We are delighted that Capital Advisors Group is integrating StoneCastle’s FICA® program into its family of separately managed account services,” said Steve Rotella, CEO of StoneCastle Cash Management. “With post-crisis reforms changing the risk and liquidity profiles of major banks and money market funds, Capital Advisors Group clients may be able to meet their liquidity needs and realize competitive returns with a potentially safe and secure alternative to bank deposits and money market funds.”
StoneCastle’s FICA® is an account that deposits client cash throughout StoneCastle’s network of hundreds of screened financial institutions. The FICA® program satisfies the FDIC’s requirements for agency pass-through deposit insurance coverage. Although FICA® is not a member of the FDIC, the banks where client money is deposited are FDIC members, providing deposit insurance backed by the full faith and credit of the U.S. Government.
About Capital Advisors Group
Capital Advisors Group, Inc. is an independent investment advisor specializing in institutional cash investments, risk management, and debt financing. Drawing upon a quarter of a century of experience through varied interest rate cycles, the firm has built its reputation upon deep, research-driven investment strategies and solutions for its clientele. For more information, visit www.capitaladvisors.com.
StoneCastle is a recognized leader in providing innovative cash management solutions. We are committed to delivering cash management solutions focused on liquidity, preservation of capital with full transparency while eliminating headline risk from changing market and regulatory conditions. StoneCastle is a wholly owned subsidiary of StoneCastle Partners, LLC. For more information please visit www.stonecastle.com.
Opinions expressed herein are subject to change without notice and do not necessarily take into account the investment objectives, financial situations, or particular needs of all investors. This press release is intended for informational purposes only and should not be construed as a solicitation or offer with respect to the purchase or sale of any security.
Capital Advisors Group, Inc. is not affiliated with StoneCastle Cash Management, LLC and is not responsible for, and does not guarantee the products, services or performance of StoneCastle, its affiliates and third-party providers.
StoneCastle and Capital Advisors Group are not banks, nor do they offer bank deposits and their services are not guaranteed by the FDIC or any other governmental agency. StoneCastle and Capital Advisors Group are investment advisers registered with the SEC. For more information regarding the firms, please see their Forms ADV Parts 1 and 2A on file with the SEC. Registration with the SEC does not imply a particular level of skill or training.
If a participant has cash at any depository institution independently from the FICA® program that is in the FICA® network, it may not receive full FDIC insurance coverage on all deposits at those institutions. The FDIC is an independent agency of the U.S. Government that protects the funds depositors place in FDIC-insured institutions for up to $250,000 per institution. FDIC deposit insurance is backed by the full faith and credit of the U.S. Government. Funds may be submitted for deposit only after a depositor enters into a FICA® agreement, which contains important information and conditions regarding the depositing of funds.
FICA® is a registered trademark of StoneCastle Cash Management, LLC.
Capital Advisors Group, Inc.