Pershing
Gather New, Small Business Assets with ProCash Plus®
Issue 11, 2010
If you service investors who own small businesses, consider the benefits of ProCash Plus® for their particular needs. Small businesses offer a pool of assets you could tap to help you increase your assets under management and give you an edge on the competition.
You may already use ProCash Plus, Pershing’s asset management platform, to combine all of your clients’ banking and brokerage needs into one convenient account. You gain additional cash assets, plus a more complete picture of their financial situation, enabling you to maximize the service you provide to them.
ProCash Plus offers small business owners the same valuable benefits enjoyed by individual investors, including a consolidated account that offers investing, checking and other services like direct deposit, a MasterCard® debit card and free, worldwide ATM access. It also offers certain tools and services that are important to running a small business, particularly in today’s challenging economic climate:
- Unlimited Check Writing
Your clients can write an unlimited number of checks, in any amount, at any time; their funds remain in a money market mutual fund or accounts backed by the Federal Deposit Insurance Corporation until the checks clear. Payee information can be referenced both online and on their monthly brokerage account statement. - Consolidated Statement
Depending on the options offered by your firm, your client’s monthly statement will list investment transactions, portfolio holdings, cleared checks, MasterCard purchases, money market fund activity and more.1 - Year-End Account Summary
ProCash Plus maintains a record of all expenses by category when your client writes a simple code on their checks or uses their MasterCard for debit card purchases—enabling them to identify tax-deductible items, all withdrawals and deposits, electronic transactions and year-end cost basis for easier tax preparation. - Optional Borrowing Power2
ProCash Plus offers an optional credit line at competitive rates typically lower than most major credit cards. Check or MasterCard purchases that exceed cash or money market fund balance(s) are automatically covered, when the credit line is accessed, and there is no extensive approval process or set repayment schedule—especially important to small businesses, which rely primarily on credit and loans for liquidity.
In addition, for a nominal fee, your clients may take advantage of these optional programs:
- BillSuite™ Online Bill Payment and Presentment Service
Electronic and paper bills are combined into a single source so that clients can view, manage and pay bills from their ProCash Plus account, available online 24/7. - RewardSuite™ Points-Based Loyalty Program
Based on MasterCard debit card usage, the program offers reward options, including gift cards to leading restaurants and stores, air travel with no restrictions, resort and spa gift certificates and one-percent cash back on eligible purchases.
Start gathering these untapped assets today. Contact your home office for more information about ProCash Plus and the many benefits available to your small business clients.
1
The consolidated statement will reflect only the activity occurring within the brokerage account for which Pershing LLC is custodian.
2
Available only with a margin account. The credit limit is set by considering the value of the marginable securities.
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