IntraFi® SweepSM for brokerage firms.
IntraFi® SweepSM for brokerage firms.
The #1 provider of FDIC-insured deposit solutions, IntraFi offers the largest insured deposit capacities, with the greatest reliability, and provides tested, trusted products centered on technology. Its deposit solutions provide brokerage firms with a variety of options to better serve client needs. IntraFi leads the industry in FDIC-insured deposit placement services, and your firm can save time and resources by leveraging the deep expertise of IntraFi’s staff to implement sweep and cash management programs successfully.
The diversification and size of our network of financial institutions can enable your brokerage firm to offer a deposit sweep program that goes beyond the capabilities of traditional sweep providers and to do so in a manner that permits your firm to control margins and adhere to strict regulatory procedures. In addition to using the deposit sweep option, your brokerage firm can grow its assets under management with FDIC-insured deposit account products that generate fee income and keep clients’ cash balances safe. If your brokerage firm has an affiliated bank, IntraFi's reciprocal deposit offerings can provide low-cost bank funding and potentially help to lower the affiliated bank’s liquidity requirements.
Using IntraFi Sweep, your brokerage firm can provide its clients with a superior investment alternative—access to multi-million-dollar FDIC insurance via a multibank deposit sweep product. Sized for millions of accounts and transactions and used by brokerage firms to attract and place billions of dollars with banks, the IntraFi Sweep leverages patented technology and is known as a “buttoned-up,” full-service offering.
IntraFi’s financial network — the largest of its kind — connects nearly 3,000 financial institutions. Our size works to your advantage. Our network includes virtually all of the nation’s largest banks, offering each access to tens of billions of dollars in deposits, distributed through dozens of sweep programs or more, and ensuring that each obtains the highly diversified funding it seeks. The diversification and size of our network provides our member banks with one-stop shopping for which they are willing to pay a premium. This, in turn, increases the returns that your brokerage firm can keep or pass along to its customers versus other solutions.
With IntraFi Sweep, your firm can
How IntraFi Sweep works — a customized approach.
When your brokerage firm chooses the deposit sweep, the IntraFi team works closely with your firm to create a customized multibank program, sized to meet your brokerage firm’s needs with the ability to expand over time.
Enjoy a streamlined implementation process and ongoing support.
With IntraFi Sweep, system-side implementation is possible in as little as 90 days, thanks to detailed project plans and proactive management of the process during all phases of implementation. Your firm has ongoing access to a dedicated IntraFi support team — a team known for its technological expertise and high-touch customer service.
ICS® and CDARS® stand out with expanded cash management options.
With IntraFi Cash Service, or ICS, and CDARS, you can offer clients access to higher levels of FDIC coverage–into nine-figures. ICS and CDARS can help you win clients’ wallet share from outside savings, investment accounts, and CDs, including those held in online banks. Your firm can control its margin and possibly earn higher commissions versus comparable investments. Brokerage firm clients are quick to appreciate the security offered by more FDIC insurance coverage and the opportunity to earn favorable returns with a risk profile comparable to Treasuries or money market mutual funds.
How the ICS and CDARS solution work — a straightforward, streamlined experience for your clients.
When a client submits a large deposit to a brokerage firm for placement in DDAs, MMDAs, or CDs, your institution places the funds into deposit accounts at FDIC-insured banks that are members of the IntraFi’s network of financial institutions. The client’s large deposit is broken down into smaller increments and placed with banks in IntraFi’s network so that the client can access FDIC protection from multiple institutions while maintaining a relationship with just one — the brokerage firm they already know and trust.
Your brokerage firm can use IntraFi’s One WaySM and receive fee income from the network banks that receive its deposits. Using One Way, your brokerage firm keeps the difference between IntraFi Network’s One-Way Sell® rate and the rate it has agreed to pay its customers. Your firm receives the net present value of the rate difference up front for funds placed in CDs and on a weekly basis for funds placed in MMDAs and DDAs. One-Way Sell rates are all-in rates; there are no transaction fees.
If your brokerage firm has an affiliated bank, instead of placing all customer funds with unaffiliated banks for fee income, your firm may forego earning fee income, in part or in whole, and place deposits with its affiliated bank. The affiliated bank can then use IntraFi's reciprocal deposit option to grow its balance sheet by exchanging funds on a dollar-for-dollar basis with other IntraFi network banks.
Additional benefits of ICS and CDARS.
ICS — IntraFi's DDA/MMDA offering
CDARS — IntraFi's CD offering
Deposit placement through IntraFi’s deposit placement services is subject to the terms, conditions, and disclosures in the program agreements. Limits apply and customer eligibility criteria may apply. ICS program withdrawals may be limited to six per month for money market deposit accounts. Deposits are placed at destination institutions in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination institution. Using multiple destination institutions provides access to aggregate insurance amounts across institutions that are multiples of the SMDIA. Although deposits are placed at destination institutions in amounts that do not exceed the SMDIA at any one destination institution, a depositor’s balances at the relationship institution that places the deposits may exceed the SMDIA (e.g., before settlement for a deposit or after settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not an insured depository institution). The depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on deposits of its funds, the depositor is responsible for determining whether deposit placement through IntraFi’s services satisfies those restrictions. A list identifying IntraFi network banks may be found at https://www.intrafi.com/network-banks. The depositor may exclude particular insured depository institutions from eligibility to receive the depositor’s funds.