Our Services for Trust Companies and Trust Departments
With Promontory Interfinancial Network’s suite of services, trusts can:
- Attract and retain valuable clients by offering a wider variety of cash management solutions that help balance returns, safety, and liquidity
- Provide customers with an alternative to money market funds, particularly prime funds, which may no longer meet compliance requirements due to floating net asset value (NAV) rules and the possibility of money market fund liquidity gates and fees
- Eliminate ongoing collateral-pledging requirements
- Earn fee income, if applicable
Unlike other cash management service providers, Promontory Network never competes with trusts for any clients and never has possession of client funds. And, Promontory Network undergoes diligent vendor-management reviews by thousands of financial institutions of various sizes.
How Trusts Can Use Promontory Services
With Promontory Network’s services—Insured Cash Sweep®, CDARS®, Promnet Reverse RepoSM, Insured Network Deposits®, and Yankee Sweep®—trusts can offer customers more choices for returns, risk management, and liquidity.
Contact us for more information.
Use of the ICS or CDARS service is subject to the terms, conditions, and disclosures set forth in the applicable agreements, including the applicable Participating Institution Agreement and the applicable Deposit Placement Agreement. Limits apply and customer eligibility criteria may apply. Program withdrawals are limited to six per month when using the ICS savings option.
The Promnet Reverse Repo service is provided by Assetpoint Financial, LLC, a wholly owned subsidiary of Promontory Interfinancial Network, LLC and a member of FINRA and SIPC. Use of the Promnet Reverse Repo service is subject to the terms, conditions, and disclosures set forth in the applicable agreements, including the Promnet Reverse Repo Service Agreement. Funds invested in repurchase agreement transactions are not FDIC insured.