SkyView 1 Unveils Digital Banking Platform for RIAs, IBDs

SkyView Partners, an investment bank and specialty lender for registered investment advisory firms and independent broker/dealers, launched SKYVIEW 1, a sister company that offers mobile banking technology and products to high-net-worth individuals through their financial advisor.

The new venture provides RIAs and broker-dealers with a dashboard for advisors to open bank accounts, link external bank accounts, set up recurring bill pay and direct deposit, initiate electronic payments and wires on behalf of their clients, as well as see an overview of each client’s SKYVIEW 1 accounts.

This new banking as a service (BaaS) platform allows advisors’ clients to access a savings account with a 3.51% APY interest rate and up to $125 million in FDIC insurance. In addition, SKYVIEW 1 customers receive a dedicated SKYVIEW 1 private banker. Advisors can receive compensation of 0.25% on client bank account deposits.

“As (Scott Wetzel, CEO and co-founder) and I assessed the banking landscape, we realized there were no banks exclusively focused on partnering with financial advisors,” said Aaron Dillon, co-founder of SKYVIEW 1. “SKYVIEW 1 was built from the ground up to fill this gap, allowing independent fiduciary advisors to truly partner with their clients to build more money momentum.”

Wayzata, MN and Los Angeles, CA-based SKYVIEW 1 is also developing loan and insurance marketplaces that will provide consumers with competitive rates and services that will be rolled out in 2024.