Where Should You Keep Your Cash? Why I Offer Flourish Cash to My Clients
One question I’ve heard from clients for years is surprisingly simple:
Where should I keep cash that I want to earn interest on, but still have available when I need it?
Maybe it’s an emergency fund. Maybe it’s money set aside for a major purchase, an upcoming tax payment, or simply reserves you want to keep outside your investment portfolio.
Whatever the purpose, I believe cash deserves just as much thought as the rest of your financial plan.
That’s one reason I’ve developed a relationship with Flourish Cash, a cash management platform that gives eligible clients another option for managing their cash reserves.
Why Cash Management Deserves More Attention
For years, interest rates on savings accounts were so low that there wasn't much incentive to compare options.
My typical suggestion was to consider an online savings account that offered a more competitive rate than a traditional brick-and-mortar bank.
But the interest rate environment has changed, and so have the options available to savers.
Today, I think there are three important questions worth asking about cash:
What is it earning? Cash that isn't needed for everyday spending may have an opportunity to earn a competitive interest rate.
How accessible is it? Emergency reserves and short-term savings need to be available when they're needed.
How is it protected? Understanding FDIC insurance limits becomes especially important as cash balances grow.
These considerations led me to take a closer look at Flourish Cash.
What Is Flourish Cash?
Flourish Cash is a cash management platform designed to help individuals and businesses earn interest on cash while maintaining access to their funds.
Rather than requiring you to open and manage accounts at several different banks, Flourish Cash provides one account through which deposits are allocated among participating FDIC-member Program Banks.
You can keep your existing checking and savings accounts, link them to Flourish Cash, and transfer money between them.
Flourish Financial LLC is a registered broker-dealer, not a bank. The cash held through the program is deposited at participating banks, where eligible deposits receive FDIC insurance subject to applicable limits and program conditions.
Why I Chose to Offer Flourish Cash
After reviewing the platform and speaking with the people behind it, several features stood out to me.
1. Competitive Interest Rates on Cash
The first consideration is straightforward: I want clients to have access to competitive options for cash that isn't being used for everyday expenses.
Flourish Cash offers a variable interest rate that can change as market conditions change.
That doesn't mean it will always offer the highest rate available. It does mean clients have another option worth comparing with their existing savings accounts.
Because rates change, I encourage anyone considering the platform to review the current annual percentage yield (APY) rather than relying on a rate quoted in an older blog or email.
You can review current Flourish Cash information at Flourish Cash.
2. Expanded FDIC Insurance Coverage
Another feature I appreciate is the ability to spread deposits across multiple participating banks.
According to Flourish's 2026 client materials, the platform offers up to:
$10 million in FDIC coverage for individual accounts
$20 million for joint accounts
$10 million for business and nonprofit accounts
These are maximum program coverage amounts, not automatic guarantees for every account.
FDIC insurance generally applies up to $250,000 per depositor, per insured bank, for each ownership category. Coverage through Flourish depends on how deposits are allocated, existing deposits you may hold at participating banks, and other program conditions.
For clients holding larger cash reserves, having a way to manage deposits across multiple banks without opening separate accounts at each one can be useful.
3. Easy Access Without Changing Your Everyday Banking
I don't believe managing cash should require unnecessary complexity.
With Flourish Cash, you can keep using your existing checking account to pay bills and handle everyday expenses.
The platform allows transfers between linked accounts, with qualifying transfer requests generally completed the same or next business day, subject to applicable deadlines and bank processing.
There are no minimum balance requirements or Flourish account maintenance fees. Certain wire transfers and external bank charges may still apply.
For someone who wants to maintain a familiar banking routine while managing excess cash separately, that simplicity matters.
4. Tools That Can Make Cash Management Easier
One feature worth highlighting is Flourish SmartBalance.
SmartBalance allows you to set a target balance for a linked checking account. The platform periodically checks that balance and can automatically move funds between your checking account and Flourish Cash.
If the balance is above your target, excess cash can be transferred to Flourish. If it falls below your target, funds can be transferred back.
Flourish also offers recurring transfers for those who prefer a scheduled approach.
These tools are optional, but they can help reduce the amount of manual attention needed to manage cash reserves.
Who Might Benefit From Flourish Cash?
I see Flourish Cash as a potential fit for people who want to be more intentional about where their cash is held.
That might include someone maintaining an emergency fund, a retiree keeping funds available for near-term expenses, a household preparing for a significant purchase, or a business owner managing cash reserves.
It's important to distinguish these short-term cash needs from long-term investing.
Cash serves a different purpose than a diversified investment portfolio. It can provide liquidity and stability, but it also has limitations, including the possibility that its purchasing power may decline over time due to inflation.
The goal isn't necessarily to hold more cash. It's to make sure the cash you do hold has a clear purpose.
Is Flourish Cash Right for Everyone?
Not necessarily.
Some clients already have banking relationships or savings options that meet their needs. Others may prefer to keep all their deposits directly with a single bank.
And because Flourish Cash rates are variable, the platform should be evaluated based on its current terms rather than assuming a particular rate will continue.
I also encourage clients to consider how much cash they actually need accessible, how their deposits are insured, and whether the account fits into their broader financial plan.
Opening a Flourish Cash account is entirely optional. There's no obligation to use the platform simply because I make it available.
A More Thoughtful Approach to Managing Cash
I spend a great deal of time helping clients think about their investments, retirement income, and long-term financial decisions.
But I also believe the smaller, practical parts of financial planning deserve attention.
Where you hold your emergency fund or other cash reserves may not be the most exciting financial decision you'll make. Still, it can affect how much interest you earn, how easily you can access your money, and how your deposits are protected.
That's why I chose to make Flourish Cash available as an additional cash management option.
If you'd like to explore whether Flourish Cash makes sense for your situation, I'd be happy to walk through how it works and how it might fit into your overall financial plan.
You can learn more about how I work or schedule a conversation with me.
Sources & References
Flourish Cash / Farther — Flourish Cash Client Factsheet, 2026 (provided client materials)
Flourish Cash Disclosure: Flourish Cash is a brokerage account offered by Flourish Financial LLC, a registered broker-dealer and FINRA member, and is not a bank. Deposits are swept to participating FDIC-member Program Banks and are eligible for FDIC insurance subject to applicable limits and conditions. Insurance does not apply until funds reach a Program Bank. APYs are variable and may change at any time. FDIC coverage may be reduced by existing deposits at Program Banks or other program conditions. Flourish Cash is not an investment account, and FDIC insurance does not protect against inflation. Additional terms, limitations, and potential fees apply. Please review the Flourish Cash program summary and account agreement for details.
All opinions and views expressed by Farther are current as of the date of this writing, are for informational purposes only, and do not constitute or imply an endorsement of any third-party’s products or services. The information provided does not take into account the specific objectives, financial situation, or the
particular needs of any specific person and therefore should not be relied upon as investment advice or recommendations. Neither does it constitute a solicitation to buy or sell securities, nor should it be considered specific legal, investment or tax advice.
Finally, investing entails risk, including the possible loss of principal, and there is no assurance that any investment will provide positive performance over any period of time.
