Veriloquent Wealth Advisors, LLC - a financial services and consulting group, has launched its “Alternative Banking” service. The new service surveys deposit rates across banks and coordinates deposits into FDIC insured accounts. Depositors can realize increased rates on deposits of up to one percent or more over average.
Coral Springs, FL (PRWEB) February 4, 2010 -- Individuals and others with a need to deposit large sums of money to back businesses, provide operating reserves, avoid market volatility, or just simply provide secure access to their wealth are faced with record low interest rates. In the current financial environment this means deposits typically provide earned interest rates of less than one percent against deposits.
The new service available from Veriloquent Wealth Advisors, LLC allows individuals, companies, municipalities and others a way to access rates not normally realized. Traditionally individuals and others may have researched bank rates through online services, however, most of these services offer only a cursory review. Veriloquent builds personal one on one relationships with the banks it surveys. “We maintain a comprehensive database of current rates and constantly survey the banks to determine the actual premiums being offered,” said Todd Billings, CEO of Veriloquent Wealth Advisors, LLC. Billings continued to say, “Within the industry this is nothing new... rates fluctuate due to the competitive marketplace and each individual bank’s balance sheet. What is new is that Veriloquent has standardized the process into something meaningful and our clients appreciate the one point of contact even though deposits could be spread amongst multiple banks.”
A distinct advantage that Veriloquent offers is a keen understanding of the banking industry and the ability to structure and monitor deposits in such a way that makes sense to the client and the bank. Veriloquent acts as a conduit, using the vernacular and knowledge of the industry to negotiate and secure superior rate exceptions and terms. Veriloquent in essence provides its clients an “insider” to navigate the financial waters.
Because of Veriloquent’s Alternative Banking service, clients receive special terms and rate exceptions on deposits. The primary benefit to the client is a higher earned interest rate on deposits and a single point of contact to manage the accounts since deposits could be spread around several banks. Ultimately, clients receive a level of service that would be hard to manage or receive on their own.
The Alternative Banking service is available within Veriloquent’s services platform, or can be contracted separately through an independent scope of work. Individuals looking to contract the service separately can engage Veriloquent with a minimum of $1MM in deposits. Individuals interested in contracting for services should contact Veriloquent Wealth Advisors, LLC directly at 1 (888) 684-2999.
About Veriloquent Wealth Advisors, LLC:
Veriloquent Wealth Advisors, LLC is a financial services and consulting group with a new approach towards financial decision making. Veriloquent removes the conflicts between sales and advice inherent in traditional “one-stop-shops” which dominate the industry. By providing sound analysis, strategy, and recommendations on assets and investments, clients realize economic benefit as they are guided through the process of making sound financial decisions. The Veriloquent approach represents a hands on advisory partnership. Veriloquent maintains offices in Coral Springs, Florida.
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[Via Legal / Law]
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