Thornhill Securities, Inc. Selects StoneCastle To be Exclusive Cash Management Provider
New York, February 6, 2018, — StoneCastle Insured Cash Sweep, LLC, a subsidiary of StoneCastle Cash Management, LLC, (“StoneCastle”) announced today that it has been selected to be the exclusive cash management provider for Thornhill Securities, Inc. (“Thornhill”), an independent broker-dealer and investment advisor based in Austin, TX. The firm now makes available its first FDIC insured cash program underscoring its commitment to preservation of wealth and bringing value to clients in all asset classes. FDIC insured cash sweep programs have grown to more than $1 trillion according to Crane Data.
“StoneCastle’s partnership approach to business helps support our vision to provide a superior broker-dealer and investment advisory platform,” said Scott Spencer, Managing Director at Thornhill. “Given the uniqueness of our client base, high levels of FDIC insurance on cash balances just makes sense.” “StoneCastle has added approximately 150 brokerages and RIAs in the past eleven months that utilize our InterLINKTM Insured Deposit program,” said Dan Farrell, Chief Executive Officer of StoneCastle Cash Management. “We are thrilled to have Thornhill as part of this growing list.”
StoneCastle provides insured deposit solutions to institutional clients, family offices, brokerages, clearing firms, registered investment advisers, and other financial intermediaries. Following its entry into the insured sweep space in early 2017, StoneCastle is successfully fulfilling its objective of driving differentiated solutions in the cash space for the benefit of its clients.
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About StoneCastle Cash Management, LLC
StoneCastle Cash Management, LLC, is a leading administrator of insured cash solutions for many of the world’s largest institutions and family offices. With an active network or more than 700+ banks, the firm extends the reach of its operational and technology platforms through institutions, public and private entities, hedge funds, colleges and universities, foundations, endowments, brokerages, and other financial intermediaries and wealth managers. StoneCastle is backed by the strength and stability of world class partners, CIBC and Charlesbank Capital Partners.
About Thornhill Securities, Inc.
Thornhill Securities, Inc., offers comprehensive investment advisory and investment banking services to institutions, growing businesses, entrepreneurs, and successful individuals seeking to grow and preserve their assets. An independent broker-dealer and investment advisor based in Austin, TX since 1988, the firm offers the experience, resources and insight to help its clients forge a path toward financial success. Thornhill prides itself on the level of personalized service it provides and on the depth of research and diligence that drives its recommendations. Securities and Advisory Services offered through Thornhill Securities, Inc. Member FINRA/SIPC