AmpersandLegal
Protect Your Firm’s Funds & Safeguard Client Accounts
Ampersand not only safeguards your funds, but also delivers a competitive yield through its extensive network of over 100 financial institutions nationwide.
Ampersand takes immense pride in offering specialized administrative and deposit management services tailored for the legal community. Our solutions are meticulously designed to elevate funds management for both your organization and your clients, providing comprehensive deposit administration services uniquely crafted to meet the specific needs of the legal field.
We offer our services for various types of accounts, including:
Mass Tort & Class Action Settlements
Bankruptcy Settlements
IOLTA/IBRETA
Escrow and Trust Accounts
General Firm Accounts
Our aim is to help you maximize returns while ensuring the safety of your funds.
Trust and Escrow Accounts
• Safeguard all client and firm funds with extended FDIC coverage.
• Our exclusive bank network offers multimillion-dollar FDIC insurance for your Ampersand deposits.
Competitive Returns and Minimal Fees
In contrast to traditional banks, Ampersand collaborates with our network to deliver the nation’s lowest banking costs.
Time-saving Simplicity
We provide consolidated statements, disbursements, and streamlined tax reporting.
Enhance Operational Efficiency
• Maintain clear separation between client funds and your firm’s funds.
• Receive comprehensive monthly statements detailing all financial activity.
• Easily transfer funds from sub-accounts to the master disbursement account.
• Interest is apportioned to each client’s sub-account.
Payments and Administration
We facilitate cost-effective benefits disbursement in a wide array of forms, such as checks, ACH transfers, wires, one-time use credit, gift cards, vouchers, and electronic benefits. This efficient service offers a significant cost advantage compared to traditional banking methods. Ampersand can help your firm with:
• Opening disbursement accounts
• Reconciliation
• Filing tax returns
• Serving as escrow agent
• Managing tax reporting for settlement disbursements
• Issuing of tax statements, such as W-2s and 1099s, to class members
• Interactive Voice Response (IVR) platform to assist your clients
Why Choose Ampersand for Your Law Firm’s Deposit Management?
Deep industry expertise allows us to bring valuable content and actionable ideas to our clients. We’re ready to help guide your firm toward its strategic goals through customized financial solutions.
Minimizes Operational Risk
We offer best-in-class fraud protection for your organization aligned with full protection of your deposits. Your sensitive personal and financial data is protected by multiple layers of security. We follow rigorous protocols for information access, and heavily encrypt your data to minimize the risk of your information being intercepted by unauthorized users. Our team follows strict guidelines for data management, and exceeds federally mandated standards.
Complete Transparency
You always have access to your funds and information about your deposits via our secure client portal. And, our dedicated team is ready and willing to answer questions you have about your funds, our processes, and more. We’re always just a call or message away.
Aligns to Your Objectives
Ampersand recognizes that while safeguarding deposits and securing competitive rates is fundamental, for nonprofits values and mission play a pivotal role. Ampersand is dedicated to aligning with your organization’s values by identifying the right banking partners that not only meet your financial needs but also share your values and support your mission.
Expertise and Service
With decades of experience working with legal entities, our approach is simple: provide deposit protection, a competitive rate, and a dedicated relationship manager to assist with all of your administrative needs.
Access Real-Time Information
With Ampersand’s ANDI® technology powered by the AmpersandIQ® platform you have 24/7 online access to the status of your deposit, relevant documentation, and reports.
How Law Firms Benefit by Partnering with Ampersand
Deposits are placed within Ampersand’s network which includes hundreds of pre-screened financial institutions that meet our strict underwriting standards:
- Competitive interest rates that often exceeds rates available directly from banks
- 100% deposit insurance coverage through trusted network of banks
- 24/7 access through online portal
Peace-of-mind knowing your funds are backed by:
- Up to $50 million FDIC coverage through our proprietary bank network
- FHLB Letters of Credit
- Surety Bonds
- Pledged Collateral
- Repurchase Agreements
Consolidated reporting and monthly statements.
Daily liquidity is standard.
