New York, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Flourish, a platform which provides innovative access to financial products that help RIAs secure their clients’ financial futures, today announced completion of its SOC 2® Type 1 examination.
The SOC 2 Type 1 certification is confirmation that Flourish’s platform and its services satisfy or exceed the exacting security measures and industry standards across security processes, internal controls, availability, and confidentiality criteria set forth by the American Institute of Certified Public Accountants (AICPA)
“More than 440 RIAs with a combined AUM of over $1.4 trillion trust Flourish with their clients’ data. Validating our ability to keep data safe and secure through a SOC 2 Type 1 certification is a demonstration of our commitment to our clients,” said Ben Cruikshank, President of Flourish. “We’re proud of this milestone and will continue to stay vigilant in the face of new security concerns and threats.”
Pursuing SOC certifications is voluntary. The SOC 2 Type 1 examination was conducted by KPMG LLP, an independent “Big 4” third-party accounting and audit firm, and was completed on April 18, 2022. Flourish plans on undergoing a SOC 2 Type 2 examination in the coming quarters. More information about the certification is available on the Flourish Web site: https://info.flourish.com/soc-2-blog.
The certification is inclusive of the Flourish Platform and its products, Flourish Cash, its cash management offering, and Flourish Crypto, its cryptocurrency investing offering. Flourish Cash is offered by Flourish Financial LLC, a FINRA-member Broker-Dealer, while Flourish Crypto is offered through Flourish Digital Assets and Paxos Trust Company, a NYDFS trust company and qualified custodian.
Flourish is wholly-owned by Massachusetts Mutual Life Insurance Company (MassMutual).
About Flourish
Flourish builds technology that empowers financial advisors, improves financial lives and retirement outcomes, and delivers new and innovative investment options to advisors. Today, the Flourish platform is used by more than 440 wealth management firms representing more than $1.4 trillion in assets under management. Flourish is wholly-owned by MassMutual. For more information, visit www.flourish.com.
Forward Looking Statements
This press release may contain forward looking statements that are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied.
Flourish is an online platform through which investors can access financial services and products. The services and products offered through Flourish are provided by different entities and are subject to different terms, investor protections and risks. Flourish Cash is offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA's BrokerCheck. Flourish Crypto is offered by Paxos Trust Company, LLC (Paxos), a New York limited purpose trust company regulated by the New York Department of Financial Services that provides cryptocurrency custody and execution services for the Flourish Crypto accounts, and Flourish Digital Assets LLC (Flourish Digital Assets), which is registered in New York as a commodity broker-dealer and provides website and other technology services and support for Flourish Crypto accounts. Flourish Financial LLC and Flourish Digital Assets LLC are affiliates, but are not affiliates of Paxos. Please review the Legal section of our website, and the disclosures provided with each Flourish service or product, for further information regarding each service and product. If you were introduced or invited to Flourish by a third-party investment adviser or other third party, whose name or logo may be shown above, please be aware that, unless otherwise disclosed to you, they are not affiliated with any Flourish entity. The role of the investment adviser or other firm that invited you to Flourish may vary between different Flourish services and products, as further described in the terms for each service or product. © 2022 Flourish. All rights re
