Notice to Clients
Clients and Partners,
Equity Trust is not impacted by the closing of Silvergate Bank, Silicon Valley Bank, and Signature Bank by the regulators as we do not have any relationship with these banks.
Equity Trust Company is a state-chartered trust company registered in the state of South Dakota and regulated by the South Dakota Division of Banking. As a trust company that does not hold client cash directly, Equity Trust has a carefully crafted Deposit Management Program (“The Program”) that utilizes FDIC-insured well-capitalized banks to hold uninvested customer cash. We conduct thorough and regular due diligence on each banking partner to ensure they remain well-capitalized. While the number of banks in our Program will vary from time to time, we currently use sixteen (16) FDIC-insured well-capitalized banks to hold our clients’ cash in lots of $250,000 per client, per bank. The Program may allow our clients to benefit from up to $4 million of FDIC insurance coverage.
As always, thank you for your continued business and support. We will continue to provide you with any updates or important information as your trusted custodian.
