A few weeks ago, StoneCastle made the announcement that they were in the process of the acquisition of some business from Intermedium Financial LLC. They have successfully completed the acquisition of an insured deposit sweep from Intermedium. StoneCastle is one of the companies that form the larger StoneCastle Cash Management Company. They have been an insured deposit provider in the business for a long time and this newest acquisition solidifies that position. The business model that is followed by the company is getting all the means possible to access the broker dealer, financial advisors, the 401K sector and all other important players in the business.
The CEO of the company, Stephen Rotella gave a statement about the acquisition. He said that the plan of the company was to become a force to reckon with in the industry and to make this happen, they were investing in companies that were using technology to add value to their businesses. The great thing about this company is their proven track record when it comes to delivery of their deposit capacity. The companies that have been under the leadership of the group include registered advisors in investment, brokerage firms and many other types of financial intermediaries. They specialize in helping the companies that are in a tight spot access the help that they need to reorganize themselves and improve their services.
The Director of Intermedium LLC confided that the company was elated about getting the ideal partner in their quest to invest in the Fintech platform. He reiterated the fact that StoneCastle was one of the known and respected names in the business and was optimistic that the new business partnership would help them complement their operations. He announced that the company would be operating most of their sweep business under StoneCastle, but maintained that they were keen on maintaining their InterLink brand.
StoneCastle Management LLC
This is an investment advisory company that has been registered by the SEC. They provide sweep business for some of the largest business organizations around the globe. The company was established in 2003 and has been growing to the level of success that they are enjoying currently.