Independent Financial Advisors, a full-service broker dealer, insurance agency and investment advisor, has partnered with l with Galileo Money+ to offer high-yield, FDIC-insured bank accounts to clients.

Galileo Money+, a division of Galileo Financial Technologies, provides white-label bank accounts through wealth management firms, allowing advisers to offer the services to their customers. 

Galileo Money + offers two separate accounts through the Bancorp Bank, including the Galileo Money+ Spending account, which offers 0.73% APY and the Galileo Money+ account, which offers a 1.36 APY for wealth accumulation. 

"Financial advisors haven’t had a way to compete with brick & mortar banks for the trillions of dollars that high net worth households keep in bank checking, savings and CDs," Aaron Dillon, managing director of Galileo Money+, said in a company release from IFA. "The white-labeled services provided by Galileo Money+ enable financial advisors to compete with banks in a meaningful way."

Cover image: Galileo