FirstService Financial provides FirstService Residential clients with financial solutions to streamline, maximize investment, monitor, and protect in the ways explained below.
Account onboarding and maintenanceWe assist in opening and administering our clients’ bank accounts to aim for accuracy and eliminate confusion. In compliance with industry regulations, all client funds are maintained in separate accounts using their distinct tax identification numbers. Additionally, we review and monitor all client accounts to ensure operational efficiency with minimal expense.
Resident payment solutionWe provide our clients with an integrated and enhanced receivables solution tailored for the community association industry. Our platform enables residents to pay their regular, special, or miscellaneous fees to their community through multiple payment channels when and how they want.
Vendor payables solutionOur streamlined payables platform is a fully integrated accounting system solution that captures vendor invoices, allows for board and property manager invoice approval, and can issue vendor payments.
Maximize InvestmentWith billions of dollars in administered funds across North America, FirstService Financial leverages our scale to eliminate unnecessary bank fees while providing increased interest rates. With an integrated approach to long-term reserve fund management, we offer multiple financial products through various banking institutions to do our best to meet our clients’ liquidity needs, generate long-term interest yields and principal protection.
Monitor and Protect
Deposit SecurityWe recognize that our clients have a fiduciary responsibility to ensure that their community’s funds are secure. With that in mind, we have partnered with highly rated banking institutions to provide the peace of mind they desire. Through FDIC/CDIC deposit insurance, excess deposit and diversification programs, and quarterly financial reviews of our banking partners, we strive to protect the safety of our client’s principal.
Fraud PreventionIn addition to our internal fraud monitoring technology and protocols, our banking partners are at the forefront of fraud prevention and detection.
Bespoke financial solutions should be as efficient as they are effective. FirstService Financial was able to reallocate an important amount of our community funds to help us earn an additional annual interest income while remaining FDIC protected.— FirstService Residential board member, Atlantic City, NJ.
long term banking partner
industry earnings via market leading rates
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