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Envestnet Estee Jimerson

Saxon Securities to offer FDIC-insured brokered CD portfolios on Envestnet platform


Saxon Securities, a platform provider of separately managed account FDIC-Insured brokered certificates of deposit (CDs) investment management services for Registered Investment Advisers (RIAs), is to offer its product on the Envestnet platform. 

Envestnet assists investment advisors in providing wealth management technology and services as well as investment solutions and products, including managed account portfolios, to their clients.  

“Envestnet prides itself on offering a broad set of managed account solutions to over 40,000 advisors who access the over 1,300 Separate Account Portfolios available through the single contract platform. We're pleased to be able to offer Saxon Securities' FDIC-insured CD portfolio solution and believe that the strategy fills a unique space in our managed account offering,” says Estee Jimerson, Senior Vice President at Envestnet.

The Saxon Securities product, usually accessed only by larger institutions, offers a managed service that provides competitive yields with the protection of the Federal Deposit Insurance Corp of the underlying CDs. In this persisting low yield environment and sovereign debt crisis, clients are looking for a managed government guaranteed fixed income solution that maximises yield relative to other U.S. government guaranteed securities. Currently, large unprotected cash allocations are being held by investors in money market positions earning as little as 0.01 per cent annually,” said Ned Lucia, Managing Partner of Saxon Securities.

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