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They’re one of the world’s most prominent global banks, with more than $1.5 TRILLION DOLLARS under management, more than 50,000 employees, offices throughout the entire world, and a designation as one of the “systemically important financial institutions of 2023.” More simply put: They have a MAJOR impact on a variety of money-related transactions….and – because of that, they have been ranked as one of the necessary operations that keeps our economy moving, as basically being “too big to fail.”
However, the Silicon Valley Bank failure resulted in heavy scrutinization throughout the banking industry, with Credit Suisse thrown back in the spotlight.
In fact, Credit Suisse recently said that the bank was seeing “significantly higher withdrawals of cash deposits, non-renewal of maturing time deposits and net asset outflows at levels that substantially exceeded the rates incurred in the third quarter of 2022.”
In addition to that, their largest investors – the Saudi National Bank – said that they would NOT give them anymore capital or increase their position in the bank. That’s why we should talk about what this means, if it’s possible for them to fail, and how you can potentially protect yourself moving forward. Thanks for watching!
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The $20 Promotion (“Promotion”) is solely available to the select individuals who clicked on the advertisement offering the promotion and subsequently open and fund their first taxable Investment Account at Wealthfront. Clients who open a tax-advantaged or 529 Investment Account will not be eligible for this promotion unless they also open a taxable investment account. In order to be eligible for the Promotion, you must pass Wealthfront’s identity verification process, deposit at least $500 in your first Wealthfront taxable Investment Account, and maintain the funds in that account for at least 7 days. After meeting the terms of the Promotion, Wealthfront Brokerage, LLC will deposit $20 into your first taxable Investment Account at Wealthfront within 30 days. Wealthfront reserves the right to change the terms set forth herein or terminate the Promotion at any time without notice. Visit landing page for more information.
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