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Federally Insured Cash Accounts Now Available at VWA

Federally Insured Cash Accounts Now Available at VWA

November 28, 2022
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We are pleased to share with you that Valley Wealth Advisors now offers the Federally Insured Cash Account (“FICA”), an FDIC insured high-yield cash account designed to help maximize the safety, liquidity, and yield on your cash balances held outside of Valley Wealth Advisors. Cash has become an increasingly important part of comprehensive wealth management conversations, so naturally we wanted to introduce you to FICA. Our team enjoys finding ways to help clients potentially increase their returns on total assets while lowering their risk. The unique combination of a competitive yield and the highest FDIC insurance limits in the market has caught the attention of many of our clients that are either earning too little at the bank or have cash balances that are uninsured, or both.

Quick FICA Facts

- X.xx% APY1 (more than the national savings account average*)

- Federally insured up to $25 million per tax ID | $50 million for joint accounts

- Liquid2 | No market or credit risk

- No deposit minimums, no fees, no transaction limitations

- Simple online application

We would love to discuss with you the immediate value that FICA offers and at the very least, talk to you about any cash you may have that is uninsured. Please see the attached PDF for more information and feel free to reach out to a member of our team to get started or with any questions you may have.

Contact your financial team here

 

*FDIC.gov as of January 1, 2021

1 Yield is effective as of January 1, 2021 and is for a maximum deposit of $25 million. Current yield and maximum deposit insurance coverage is indicative for FICA and may change without notice. Past performance does not guarantee future results.

2 Liquidity is on a next business day basis. Same day purchase credit and next day liquidity redemptions are subject to a 3:00PM ET cut-off. Please read the FICA Terms and Conditions for more complete information and the governing terms of the account (including liquidity, terms, etc.). This can be found at www.ficaaccount.com.

FICA satisfies the FDIC requirements for agency pass-through deposit insurance coverage. Program banks in the FICA network are are FDIC insured “banks” and “savings associations” as those terms are defined in the Federal Deposit Insurance Act. If a participant has cash at any depository institution independently from the FICA program that is in the FICA network, then full FDIC insurance coverage on deposits at those institutions may not be received.