|[November 02, 2021]|
Deposit Solutions LLC and MJP Wealth Advisors are pleased to announce the launch of a new partnership between the two firms that will provide clients of MJP Wealth Advisors with streamlined access to federally insured savings products with highly competitive rates from a curated network of financial institutions.
Clients of MJP Wealth Advisors (MJP) will benefit from seamless access to a broad array of high-yield deposit products through SaveBetter (SaveBetter.com), the direct-to-consumer savings platform built by Deposit Solutions LLC.
This is the first strategic partnership between Deposit Solutions LLC and a Registered Investment Advisor (RIA) in the United States that leverages its proprietary deposit platform. Connecting to the SaveBetter platform will enable MJP clients to complement the 40-year-old firm’s personalized investment strategies with cash-management solutions to meet their savings goals, including high-yield savings and money market deposit accounts, and no-penalty and fixed-term CDs offered by numerous banks across the country-all through the convenience of a single online account.
SaveBetter’s curated network of bank partners features community development financial institutions (CDFIs), including Ponce Bank and Central Bank of Kansas City. Receiving deposit funding through SaveBetter enables these mission-driven institutions to deploy capital to expand economic opportunity for underserved people an communities.
“MJP Wealth Advisors has decades of investment advisory experience, and we are pleased that through this new partnership, the firm’s team of financial professionals can help clients unlock the potential in their cash savings with broader and more competitive options,” said Philipp von Girsewald, CEO, Deposit Solutions LLC.
“We strive to give our clients the best guidance to reach their financial goals, from investing to wealth management. Providing them with the means to easily build a high-earning yet flexible portfolio of savings vehicles through SaveBetter, as part of our partnership with Deposit Solutions LLC, is a game-changer,” said Brian Vendig, President, MJP Advisors. “With SaveBetter, we are excited to bring this unique, turnkey financial tool to our valued clients.”
About Deposit Solutions LLC, SaveBetter and Raisin DS
Headquartered in New York, Deposit Solutions LLC provides a proprietary open architecture platform for deposits products. Deposit Solutions LLC helps banks improve their deposit funding by offering national reach and the entire value chain for their retail deposit products, and provides savers with better access, more choice and higher convenience when evaluating savings products from FDIC insured banks.
SaveBetter (SaveBetter.com) is an online platform that gives savers direct access to a variety of deposit products through the convenience of a single account, helping them unlock the growth potential of their cash savings. SaveBetter customers use the platform to fund federally insured deposit products with a wide range of maturities and interest rates, offered by a selection of banks from across the country. Partnering with SaveBetter likewise helps banks optimize their deposit funding by offering national reach and the entire value chain for their retail deposit products.
Deposit Solutions LLC operates SaveBetter and is a member of the Raisin DS group, a trailblazer for open banking in the deposits and investments space. Raisin DS services over 550,000 direct customers on its B2C savings platforms across Europe, and collaborates with around 400 banks and financial services providers in over 30 countries. The fintech’s investors include Goldman Sachs, Deutsche Bank, and PayPal (News – Alert) Ventures.
About MJP Wealth Advisors
Founded in 1981, MJP Wealth Advisors is an independent wealth management firm that creates customized, integrated investment strategies for financial growth, asset performance, wealth retention and wealth transfer. The firm provides sophisticated financial solutions and wealth management services tailored to the needs of families, individuals, and businesses.
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