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Press Release

Flourish Announces New Relationship with Focus Financial to Bring Flourish Cash to More Focus Firms

Financial Advisors Across Focus RIAs to Benefit from Bringing Clients’ Held-Away Cash into Orbit


March 19, 2024

Estimated reading time: 2 minutes

 

New York, Mar. 19, 2024 (BUSINESS WIRE) -- Flourish, a platform that provides innovative access to financial products that help registered investment advisors (“RIAs”) improve their clients’ financial outcomes, today announced a new formal relationship with Focus Financial Partners (“Focus”), a leading partnership of independent, fiduciary wealth management firms, to make Flourish Cash available to additional Focus firms.

Flourish already works with over a dozen Focus firms, including Buckingham Strategic Wealth, LLC, which has previously shared its success in leveraging Flourish, and The Colony Group, LLC. This new relationship formalizes the existing strong organic relationship between Flourish and Focus and sets the stage for making Flourish Cash available to additional Focus firms as Focus enters its next phase of growth.

“Throughout the years, we have been fortunate to work with a number of Focus firms, helping their clients generate higher earnings on their reserve savings,” said Max Lane, CEO of Flourish. “Formalizing our relationship recognizes the mutual benefits that Focus firms, their end clients, Focus and Flourish have already enjoyed so far. We look forward to bringing Flourish Cash to more Focus firms as part of this expanded relationship.”

“We are delighted to formalize our partnership with Flourish, marking a natural progression that aligns with our strategic vision for empowering our firms and their clients with innovative financial solutions,” added Michael Nathanson President of Focus and Chief Executive Officer of The Colony Group.

Flourish’s products are built exclusively for RIAs and help financial advisors bring held-away assets into their orbit. Flourish Cash, its cash management solution, was recognized as a “Software All Star” in the 2024 T3 / Inside Information Software Survey. Flourish also recently announced Flourish Annuities, an end-to-end annuities solution built specifically for RIAs and their clients.

Over 750 RIAs managing over $1.5 trillion in combined assets trust Flourish to bring more assets into their orbit. The Flourish platform allows advisors to feature their firm’s branding, incorporate holdings into core technology systems, obtain visibility into balances, statements, and tax documents—as well as access client-friendly materials, robust and customizable compliance resources, white-glove support, and more.

 

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 supports more than $4.5 billion in assets under custody and is used by more than 750 wealth management firms representing more than $1.5 trillion in assets under management. Flourish is a wholly-owned, independently operating subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual). For more information, visit www.flourish.com.

About Focus Financial Partners Inc.

Focus Financial Partners Inc. is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.

Forward Looking Statements

This press release may contain forward looking statements that are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied.

This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success.


Media Contact

Marissa Arnold for Flourish

flourish@marissarnoldpr.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 Crypto is offered by Paxos Trust Company, LLC, a New York limited purpose trust company regulated by the New York Department of Financial Services that provides custody and execution services for the Flourish Crypto accounts, and Flourish Digital Assets LLC, registered in New York as a commodity broker-dealer and provides website and other services and support for Flourish Crypto accounts. Paxos is not an affiliate of Flourish. 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. 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. © 2024 Flourish. All rights reserved.

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 banks that have agreed to accept deposits from customers of Flourish Financial LLC (Program Banks). The accounts at Program Banks will pay a variable rate of interest. Flourish Cash currently has a tiered interest rate structure, as set forth in the rate tier summary. Each annual percentage yield (APY) may change at any time. The Flourish Cash interest rate(s) could be lower than the rate that could be earned by opening a deposit account directly with a Program Bank. 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 FDIC aggregate insurance coverage limits. FDIC insurance will not be provided until the funds arrive at the Program Bank. Flourish Cash’s current Program Banks can be ound here. For additional information regarding FDIC coverage, visit https://fdic.gov/ and https://www.flourish.com/advisors. This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success.