CDARS® for Advisors
Through the CDARS® service, your clients (or you as their trustee) can access multi-million-dollar FDIC insurance on CD investments made through a single financial institution.
With CDARS, your clients get One Relationship, One Rate, One StatementSM.
One Relationship. Investors can access multi-million-dollar FDIC insurance coverage by working directly with with any local CDARS Network member – a financial institution your clients already know and trust
One Rate. Investors earn one rate for each CD maturity and enjoy the option of reinvesting funds through a simple process.
One Statement. Investors receive one easy-to-read statement summarizing all of their CD holdings.
With access to insurance, your clients can say “goodbye” to ongoing collateralization requirements, or opening accounts at different banks in different insurable capacities. There also is
no need to manually consolidate account statements or interest disbursements on a recurring basis. This reduces administrative burdens (especially during tax and financial reporting seasons) and frees up valuable time. So, your clients (or you if you are acting as their fiduciary) can skip the extra paperwork while enjoying the peace of mind associated with access to FDIC insurance. And, everyone can rest assured knowing that confidential information remains protected.
CDARS received very positive reviews in a March 8 Standard and Poor’s Credit FAQ piece entitled, "What Effect Will The Certificate Of Deposit Accounts Registry Service Program Have On Fund Ratings?” In the report, Standard and Poor’s stated that, from a credit perspective, it deems CDs issued through CDARS to be “AAA/A-1+” equivalent. Excerpts from the report are available at Crane Data
Limits apply. Funds may be submitted for placement only after a depositor enters into an agreement with a network member bank.
With your client’s consent, the bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending, which may not satisfy your client’s local investment goals/mandates.
CDARS is a registered service mark of Promontory Interfinancial Network, LLC.