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COO/CFO Investment Advisory (Trust Accounts)

An investment advisory began working with clients that had qualified settlement funds (QSFs) that would not be released for between 1 and 3 years. The advisory has a responsibility to invest the settlement funds securely and set up an account in the client’s name. The advisor found it could get 5-15 basis points in higher yield for its clients with CDARS® and ICS® services than with Fidelity Money Market funds.

The firm went to its local bank when it started handling the settlement accounts, and the banker provided the ICS and CDARS solutions.

The firm does not have its own operational funds sufficient to warrant using ICS, and uses Fidelity or Schwab for its clients’ investments. The firm has carved out ICS and CDARS solutions for the QSFs.

"We use [local bank] instead of a large bank because it is high touch and they have a presence here in [local city]. They are smaller, but [with ICS and CDARS] feel big."

COO/CFO Investment Advisory (Trust Accounts)

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