Flourish completes SOC 2 Type 1 audit


Flourish's Commitment to Security

September 22, 2022


Our customers trust us to keep their data safe and secure. Since our inception, we’ve taken that trust seriously by making security a top priority across our organization. 

One of the biggest steps any organization can take in embracing security is the pursuit of a SOC (Service Organization Controls) 2 certification. This certification serves as independent verification that a company satisfies or exceeds the exacting security measures and industry standards relevant to security, availability, processing integrity, confidentiality, or privacy defined by the American Institute of Certified Public Accountants (AICPA). We believe that this certification is more important than ever, given increased cloud adoption and remote workforces paired with rising cybersecurity threats.

We’re proud to announce that on April 18, 2022 Flourish completed our SOC 2 Type 1 examination, which evaluated the processes, procedures, and controls around the Flourish Platform services—including both Flourish Cash and Flourish Crypto. The examination was performed to validate that Flourish had the necessary security, availability, and confidentiality controls designed, implemented, and operating effectively as of November 30, 2021. Our SOC 2 Type 1 examination was conducted by KPMG LLP, a “Big 4” independent third-party accounting and auditing firm. 

At Flourish, security and risk management is every single employee’s job. Pursuing a SOC 2 is voluntary and not necessarily motivated by compliance or any other regulatory requirements, but was an important step for our organization, given the trust placed in us by our customers. Ensuring that we had the appropriate controls and processes in place for our SOC 2 Type 1 examination was truly a collaborative effort across the Flourish team. 

We’re proud of this milestone, but know that security is an ongoing effort. We are committed to remaining vigilant as our business evolves and new threats arise, and therefore are excited to embark on our next journey towards SOC 2 Type 2 certification. 

Interested in learning more about Flourish Crypto?

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. Flourish Financial LLC and Flourish Digital Assets LLC are affiliates, but are not affiliates of Paxos. 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. © 2023 Flourish. All rights reserved.

1 A Flourish Cash account is a brokerage account offered by Flourish Financial LLC. Flourish Financial LLC is not a bank. 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. If you were introduced or invited to Flourish Cash by a third-party investment adviser or other third party, whose name or logo may be shown above, please be aware that, unless otherwise disclosed to you, they are not affiliated with Flourish Financial LLC and will not provide any advisory or brokerage services for your Flourish Cash account or have the authority to provide instructions on your account.

2 Flourish Crypto is a cryptocurrency investment account through which investors can trade cryptocurrencies and maintain custody of cryptocurrencies and U.S. dollars. Custody of Flourish Crypto accounts, including all assets in the accounts, and cryptocurrency trading services are provided by Paxos Trust Company, LLC (Paxos) in accordance with the Paxos Terms. Paxos is a New York limited purpose trust company regulated by the New York Department of Financial Services. Website and other technology services and support for Flourish Crypto accounts are provided by Flourish Digital Assets LLC (Flourish Digital Assets) in accordance with the Flourish Crypto Terms. Flourish Digital Assets is registered in New York as a commodity broker-dealer. Cryptocurrencies held in Flourish Crypto accounts are not currently eligible for in-kind transfer to other custodians or cryptocurrency wallets. If a Flourish Crypto account is closed, the customer's cryptocurrency positions will be liquidated and the customer will receive the U.S. dollar proceeds. Investing in cryptocurrencies involves a high degree of risk, as further described in the risk disclosures section of the Paxos Terms and the Flourish Crypto Terms. Flourish Crypto accounts are separate from Flourish Cash accounts and assets in Flourish Crypto accounts are not eligible for protection by the Securities Investor Protection Corporation (SIPC).