Flourish

Empowering Advisors, Expanding Frontiers: A 2025 Message from Flourish


January 13, 2025

Estimated reading time: 2 minutes

 


As we settle into the rhythm of 2025, Flourish President Ben Cruikshank is taking a moment to reflect on how we’ve grown in our mission over the past year and the plans that will continue to propel us forward in the year ahead.|| 

Hitting scale with Flourish Cash

Flourish Cash reached more than $6.5 billion in assets under custody.

We saw continued growth and expansion of Flourish Cash† as we grew to over 900 firms and tens of thousands of end clients. Notable platform updates included: 

"Flourish Cash has redefined what’s possible in cash management. By integrating innovative features and building strong industry partnerships, we’re making it easier than ever for advisors to deliver exceptional value to clients while growing their businesses."

Launching Flourish Annuities

graphic3-2025-new-year-letter (2)

Last January, we launched the first phase of Flourish Annuities,* bringing advisors an easy way to handle replacements and dip their toe into the world of annuities with MYGAs.

In 2025, we will unveil the next phase of Flourish Annuities – a significant expansion to encompass almost all major fee-based annuity types, as a next step to building the insurance platform of record for the RIA industry.

"Fee-based annuities can often meaningfully improve client outcomes, but the experience of buying an annuity in America is fundamentally broken. With Flourish Annuities, we've reinvented the annuity experience to be fast, digital, and RIA-centric, ensuring that advisors always have access to the best products for their clients."

Continued growth

50% increase in Flourish Cash client base | 900+ RIA firms | 42% increase in advisors on the Flourish platform

In an era when many RIAs are struggling to grow organically, Flourish Cash has proven itself to be a powerful tool for starting conversations and reaching new clients – and in Q1, we'll be launching a major new feature aimed at driving organic growth for advisors. 

"In 2024, we heard from more advisors than ever before who leverage Flourish Cash as an organic growth strategy. We love these stories — your success is our success. In 2025, we’re committed to building tools that make growth not just possible but a natural part of the process."

Adapting to a new rate environment

Flourish Cash clients earned more than $250M in interest collectively

In addition to providing clients with a solution that offers more than 9x the interest rate of the national savings account average,# we expanded FDIC coverage through our Program Banks to support larger accounts – up to $24M for a two-person household.Ω 

"In uncertain times, our focus on secure cash solutions helps you keep client trust at the forefront while at the same time delivering better yield than traditional banks."

A bevy of awards

Industry recognition

Flourish was honored with numerous prestigious awards in 2024, reflecting our commitment to excellence:

  • T3’s Highest Rated Cash-Management Service
  • Wealth Management’s Best Cash Optimization award winner (plus CEO, CTO, & CMO of the Year finalist)
  • Banking Tech Awards Best Digital Solution winner
  • RIA Intel Most Innovative Technology of the Year finalist for Flourish Annuities
  • Finovate Awards Best Wealth Management Solution finalist for Flourish Cash
  • ThinkAdvisor Luminaries finalist for CEO of the Year, Industry Disruptor, and Innovation in Retirement 

"Recognition is always gratifying, but what truly matters most is delivering results to you, our advisor partners. The accolades we've earned are a testament to our shared success."

Thank you for your continued partnership. We look forward to achieving more together in 2025!

Flourish President Ben Cruikshank

Ben Cruikshank, Flourish President

About Flourish

Flourish builds technology that empowers financial advisors, improves financial lives and retirement outcomes, and delivers new and innovative investment options to advisors. Today, the Flourish platform is used by more than 900 wealth management firms representing more than $1.5 trillion in assets under management. Flourish is wholly-owned by Massachusetts Mutual Life Insurance Company (MassMutual). For more information, visit www.flourish.com.

 

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Flourish is an online platform through which investors can access financial services and products. Flourish’s offerings are provided by different entities and are subject to different terms, investor protections, and risks. Flourish Cash is offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA's BrokerCheck. Flourish Annuities refers generally to the annuity platform operated by Flourish Technologies LLC, where applicable, and to Flourish Insurance Agency LLC in its capacity as a licensed insurance producer providing insurance services related to such platform. Flourish Insurance Agency LLC does business in California under the name Flourish Digital Insurance Agency. An annuity is an insurance contract. Annuities shown on the platform are sold through Flourish Insurance Agency LLC, a licensed insurance producer, with offices in Jersey City, New Jersey, and are issued by one or more approved licensed life insurance companies. The Flourish entities mentioned above are affiliates. Flourish Cash and Flourish Annuities accounts are separate accounts and only assets in Flourish Cash accounts may be eligible for protection by the FDIC or SIPC. Please review the Legal section of our website, and the disclosures provided with each Flourish service or product, for further information. If you were introduced or invited to Flourish by an investment advisor or other third party, please be aware that, unless otherwise disclosed to you, they are not affiliated with any Flourish entity. The role of the investment advisor or other firm that invited you to Flourish may vary between different Flourish services and products, as further described in your terms of service. © 2025 Flourish. All rights reserved.

|| Source: Flourish Financial LLC; data as of 01/06/2025. 

≈ Assets include Flourish Cash client cash balances held with the Flourish Cash Program Banks as of 01/06/2025.

† A Flourish Cash account is a brokerage account offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA's BrokerCheck. The cash balance in a Flourish Cash account will be swept from the brokerage account to deposit account(s) at one or more third-party Program Banks that have agreed to accept deposits from customers of Flourish Financial LLC. The accounts at Program Banks will pay a variable rate of interest.

* Flourish Annuities refers generally to the annuity platform operated by Flourish Technologies LLC, where applicable, and to Flourish Insurance Agency LLC in its capacity as a licensed insurance producer providing insurance services related to such platform, and where applicable, the individual annuity contracts intended to be purchased by individual clients of registered investment advisors ('RIAs'). Flourish Insurance Agency LLC does business in California under the name Flourish Digital Insurance Agency.

An annuity is an insurance contract. Annuities shown on the platform are sold through Flourish Insurance Agency LLC, with offices in Jersey City, New Jersey, a licensed insurance producer, and are issued by one or more approved licensed life insurance companies. The issuing insurance company, not any Flourish company, is solely responsible for its own financial and contractual obligations. All benefits and guarantees of the annuity contract are subject to the claims paying ability of the issuing insurance company. This is not a proposal or a solicitation to purchase insurance. Flourish Annuities is not available to New York residents.

# Federal Deposit Insurance Corporation, National Deposit Rates: Savings [SNDR], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/SNDR, 12/16/2024.

Ω The cash balance in a Flourish Cash account that is swept to one or more Program Banks is eligible for FDIC insurance, subject to FDIC rules, including aggregate insurance coverage limits. FDIC insurance will not be provided until funds arrive at the Program Bank. There are currently at least 24 Program Banks available to accept deposits for business Flourish Cash accounts and personal Flourish Cash accounts, and we are not obligated to allocate customer funds across more than this number of Program Banks if there is a greater number of banks in the program. Customers are generally eligible for FDIC insurance coverage of $250,000 per customer, per Program Bank, for each account ownership category. Thus, business customers are eligible for up to $6,000,000 of FDIC insurance and personal customers are eligible for (i) up to $6,000,000 of FDIC insurance for an individual account or revocable living trust account and (ii) up to $12,000,000 of FDIC insurance for a joint account with two owners or joint revocable living trust(s). The total FDIC coverage for a two-person household is calculated assuming that each household member has an individual account and that both household members share a joint account. If the number of Program Banks decreases for a customer (for instance, because a customer chooses to exclude Program Banks from receiving their deposits), the amount of FDIC insurance through Flourish Cash could be lower. Typically, all of a customer’s deposits at a Program Bank in the same ownership category (including deposits held outside Flourish Cash or held through multiple Flourish Cash accounts with the same ownership category) count toward the FDIC insurance limit for deposits at that Program Bank. Customers are responsible for monitoring whether they maintain deposits at a Program Bank outside of Flourish Cash and should consider choosing to exclude that Program Bank from receiving their deposits to avoid exceeding FDIC insurance limits. Although Flourish Cash is offered through a brokerage account and cash held in brokerage accounts often has the benefit of SIPC protection, until such time as we offer securities products, customers likely will not have the benefit of SIPC protection. SIPC protection is not available for cash held at the Program Banks. Our current Program Banks can be found here. For additional information regarding FDIC coverage, visit https://fdic.gov/.