New York, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Flourish, a platform that provides innovative access to financial products that help registered investment advisors (RIAs) improve their clients’ financial outcomes, today announced that Flourish Cash, its cash management solution, and Flourish Crypto, its cryptocurrency investing offering, were recognized as “Software All Stars” in the 2024 T3 / Inside Information Software Survey. 

Conducted by industry veterans Joel Bruckstein of Technology Tools for Today (T3) and Bob Veres of Inside Information, the survey combines insights from thousands of advisors and historical data to serve as a comprehensive guide for advisors seeking to optimize technology for client service and office efficiencies. Standout solutions, identified as Software All Stars, are highlighted if they achieve exceptional (at least 8.0) average user ratings and significant market penetration. 

In the Automated Cash Management category, Flourish Cash secured a rare 9.02 rating, while Flourish Crypto earned 8.57 in the Cryptocurrency/Alts category. The survey also revealed that of the 130 surveyed advisory firms considering a cash management solution, Flourish Cash is their top choice. This is the fifth year in a row Flourish Cash has achieved the highest rating. 

“We are thrilled to have our products highlighted as Software All Stars and, following a momentous year for Flourish Cash, we are incredibly pleased to see this solution in particular receive the highest category rating, highest market share, and highest growth—all by a significant margin. Flourish’s products are built explicitly for RIAs and it is a high bar to earn praise from financial advisors,” said Max Lane, CEO of Flourish.    

Flourish has earned numerous industry accolades. Both Flourish Cash and Flourish Crypto were recognized as RIA favorites in last year’s Bob Veres’ 2023 T3/Inside Information Advisor Software Survey. Flourish Cash has been recognized by the WealthManagement.com Industry Awards for the Best Cash Optimization Solution and Outstanding Achievement in Cash Optimization as well as a Leading Fintech Platform finalist by the ThinkAdvisor Luminaries Awards. Flourish Crypto was recognized as the Best Cryptocurrency Provider in addition to a finalist for the Most Innovative New Applications category by WealthMangement.com’s award programs as well.

Flourish Cash is a cash management solution built explicitly for RIAs that offers clients competitive interest rates and elevated FDIC insurance through its Program Banks. There has been a surge in demand for Flourish Cash with their client base increasing by 161% in 2023 alone. Last year, 9 rate increases brought current interest rates to more than 10x the national savings account average and, following 3 increases in FDIC insurance coverage, Flourish Cash offers up to $16 million in FDIC coverage for a two person household through its Program Banks (current rates can be found via https://www.flourish.com/rates). Flourish Cash clients collectively earned over $130 million in interest in 2023.  

Over 700 RIAs managing over $1.5 trillion in combined assets trust Flourish to bring more assets into their orbit. The Flourish platform allows advisors to feature their firm’s branding, obtain visibility into balances, statements, and tax documents—as well as access client-friendly materials, robust and customizable compliance resources, white-glove support, and more. RIAs can also incorporate their clients’ cash holdings into their reporting and billing systems. Flourish also offers Flourish Annuities, an end-to-end annuities solution built specifically for RIAs and their clients. 
 
To read the full 2024 T3 / Inside Information Software Survey, visit: https://t3technologyhub.com/wp-content/uploads/2024/01/2024-T3_Inside-Information-Software-Survey.pdf. 

About Flourish
Flourish builds technology that empowers financial advisors, improves financial lives and retirement outcomes, and delivers new and innovative investment options to advisors. Today, the Flourish platform supports more than $4.1 billion in assets under custody and is used by more than 700 wealth management firms representing more than $1.5 trillion in assets under management. Flourish is wholly-owned by Massachusetts Mutual Life Insurance Company (MassMutual). For more information, visit www.flourish.com. 

Forward Looking Statements
This press release may contain forward looking statements that are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied.

This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success.

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. Paxos is not an affiliate of Flourish. Flourish Annuities refers generally to the annuity platform operated by Flourish Technologies LLC, where applicable, and to Flourish Insurance Agency LLC in its capacity as a licensed insurance producer providing insurance services related to such platform. Flourish Insurance Agency LLC does business in California under the name Flourish Digital Insurance Agency. An annuity is an insurance contract. Annuities shown on the platform are sold through Flourish Insurance Agency LLC, a licensed insurance producer, with offices in Jersey City, New Jersey, and are issued by one or more approved licensed life insurance companies. The Flourish entities mentioned above are affiliates. Flourish Cash, Flourish Crypto, and Flourish Annuities accounts are separate accounts and only assets in Flourish Cash accounts may be eligible for protection by the FDIC or SIPC. Please review the Legal section of our website, and the disclosures provided with each Flourish service or product, for further information.

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. Flourish Cash currently has a tiered interest rate structure, as set forth in the rate tier summary. Each annual percentage yield (APY) may change at any time. The Flourish Cash interest rate(s) could be lower than the rate that could be earned by opening a deposit account directly with a Program Bank. The cash balance in a Flourish Cash account that is swept to one or more Program Banks is eligible for FDIC insurance, subject to FDIC rules, including FDIC aggregate insurance coverage limits. FDIC insurance will not be provided until the funds arrive at the Program Bank. Flourish Cash’s current Program Banks can be found here. For additional information regarding FDIC coverage, visit https://fdic.gov/ and https://www.flourish.com/advisors.This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success.

Federal Deposit Insurance Corporation, National Deposit Rates: Savings [SNDR], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/SNDR, 01/16/2024.

Marissa Arnold
flourish@marissaarnoldpr.com