Why is Suncoast Capital Group the best choice to handle deposit and CD investments?
How does Suncoast Capital Group add value for banks wishing to issue deposits?
How does Suncoast add value for CD investors looking to purchase CDs?
How do I purchase a CD from Suncoast Capital Group?
What if I need to liquidate the CD prior to its stated maturity date?
What is a deposit broker?
A deposit broker is a person engaged in the business of placing deposits, or facilitating the placement of deposits, of third parties with insured depository institutions. It may include the business of placing deposits with insured depository institutions for the purpose of selling interests in those deposits to third parties.
Why is Suncoast Capital Group the best choice to handle deposit and CD investments?
Drawing on over a combined 35 years of experience in the brokered CD industry, the principals of Suncoast Capital Group are licensed with the NASD and have spent years developing a nationwide network in the industry and are driven to meet the discerning needs of their clients. Providing exceptional personal service, Suncoast Capital Group will be there at every turn to help you achieve your deposit and CD investment needs in a convenient, one-step approach which will save you both time and money.
How does Suncoast Capital Group add value for banks wishing to issue deposits?
Gathering deposits locally can be a costly proposition. Often it requires dollars spent for advertising, as well as the maintenance of numerous smaller accounts. In addition, local competition from other financial institutions may drive up rates and increase the cost of deposits.
By issuing CDs through Suncoast Capital Group, a financial institution in need of deposits can gather all the money it needs in one lump sum with no advertising cost and, most importantly, without disrupting local market interest rate pricing. It is an efficient way for a financial institution to raise deposits in order to fill their specific need in very timely manner.
How does Suncoast add value for CD investors looking to purchase CDs?
There are nearly 18,000 FDIC insured financial institutions in the U.S. today and finding the best rates can be a tedious and time consuming process. Suncoast Capital Group saves our clients time and money by doing all the searching and negotiating for them. We have a nationwide network of federally insured CD issuers and constantly maintain an inventory of CDs which is refreshed daily with new rates and terms. These resources allow our clients to build a large portfolio of FDIC insured CDs at the best rates available.
In addition, we offer our clients the convenience of providing one simple interest payment per month, regardless of how many CDs are in their portfolios. This arrangement offered through Suncoast Capital Group’s custodian, Peninsula Bank, also makes working with auditors effortless since all of the CDs are safe-kept in one place with the bank, rather than scattered at various banks nationwide.
Our clients have the peace of mind of knowing that their CD investments are FDIC insured and that the custodian, Peninsula Bank, is itself an FDIC insured institution which has successfully completed a SAS-70 audit of its custody operations.
Are the CDs FDIC Insured?
Yes, all CDs offered by Suncoast Capital Group are insured with the Federal Deposit Insurance Corporation (FDIC).
How do I purchase a CD from Suncoast Capital Group?
Purchasing a CD from Suncoast Capital Group is as simple as picking up the phone to confirm availability of the CD you are interested in and wiring the funds to Peninsula Bank, the custodian bank for all CDs purchased through Suncoast. Click here to get started. Click here to get started.
What if I need to liquidate the CD prior to its stated maturity date?
Unlike most banks who will typically charge a penalty of six months interest or more for the early withdrawal of a CD, there is no pre-stated penalty for early withdrawal for any CD purchased through Suncoast Capital Group. Although there is no guaranteed secondary market for your CD, the vast majority of the time we can purchase your CD back from you at the current prevailing market price which may result in a capital gain or loss.