Buy Treasuries with your company's cash

Trevian Cash buys custom portfolios of U.S. Treasuries for companies with excess cash.

It is a service offering of Trevian Wealth Management, which focuses on optimizing the personal finances of entrepreneurs and investors.  We provide investment advice to our clients - buying Treasuries for Trevian Cash clients, and on an unlimited scope basis for the families that we work with.

Trevian Wealth is a management company – we give you financial advice and place trades for you, in the Fidelity accounts on which we are permissioned when you become a client.

Your U.S. Treasuries will be held by Fidelity, in a brokerage account in the name of your company.

Fidelity is one of the country’s largest investment firms. An overview of Fidelity is here.

We are your fiduciary – required by law to put your interests first. And happily so!

First your company will sign a client agreement to be a client of Trevian Wealth Management, via DocuSign. Next, your company will open a brokerage account at Fidelity, also via DocuSign. In order to open a Fidelity account, we need your company’s Certificate of Incorporation, EIN, entity type, and mailing address. Additionally, we need the full name, date of birth, Social Security Number, mailing address, email address and mobile phone number of all authorized parties on the account (i.e. company representatives who can instruct us to place trades), as well as that same information for any Control Persons not already named, and any people or entities who own more than 25% of the company. If you would like to review the full Fidelity business account application, it is here.

We will help you every step of the way, via Zoom screen shares, phone calls, or however else works best for you.

We have a high-touch service mode, and are available as needed, virtually always on a same-day basis. You’ll work with Phil, our founder and CEO, on determining which Treasuries are optimal to buy. Cathy leads trading and the onboarding process for the firm, and Dan will be involved on portfolio analysis.

We charge $5,000 as an upfront implementation fee, and then 0.03% (three basis points, 0.0003 as a decimal) of average daily balances each month, which is 0.36% annually.  There are no other fees charged by Trevian Cash.  3bp is $300 per month per $1 million invested.

As in all trading, there is a bid/ask spread when trading.  We trade through multiple brokers, seeking high-quality execution for our clients on every trade.  

Fidelity also has a brokerage account fee schedule, here.  We expect that typical Trevian Cash clients will not pay any fees to Fidelity, though it is possible for there to be costs in some edge cases.

There can be a meaningful gap between bank deposit rates and short-term U.S. Treasury yields. Trevian Wealth Management already has all the needed talent and infrastructure in place to buy U.S. Treasuries in size, so we launched Trevian Cash so we can help more founders and their companies.

There isn’t an explicit minimum balance amount, though below a couple million dollars of extra cash it may not be worth the effort to set this up.

There is not a functional maximum cash amount. U.S. Treasuries are a very deep and liquid market and we can buy billions of dollars of them if needed.

The current market rates on bank deposits and short-term CDs are well below current U.S. Treasury yields of similar maturities – your bank can very likely get all the deposits it needs at rates far below that of the U.S. Treasuries that we recommend buying. Data on bank deposit rates from the FDIC are here, in the national deposit rates column.

Treasuries are a debt obligation of the U.S. government, and an overview of their characteristics is here.  If you sell your Treasuries before their maturity date, you could see either a gain or a loss, depending on how interest rates move.  If you hold until maturity, you will receive the precise yield to maturity as specified on each trade confirmation.   

Trevian Cash is an offering of Trevian Wealth Management, which is owned by its Founder and CEO, Phil Swisher.

We are headquartered in Weston, Massachusetts, about a half hour west of Boston.

You can cancel at any time, with no cost or penalty, just let us know. We can then sell your remaining Treasuries if desired, wire the cash back to your company’s operating bank account, and close your company’s Fidelity brokerage account. Or, if you prefer, you can keep your company’s Fidelity brokerage account and manage it yourself, without the involvement of Trevian Wealth Management, if you feel comfortable doing so.

Let us know what you’re interested in buying and why, and we’ll determine the best next steps. There is a danger in being ‘too clever by half’ by reaching for yield in conservative investment programs, though we are happy to listen.

That’s totally fine. Just let us know and we’ll help you determine which Treasuries are most optimal to sell. We can wire you cash one business day after executing the order to sell your Treasuries.