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Exciting News!!

Altruist  announced a high-yielding cash management account called Altruist Cash.  Some of the key benefits are:

  • Competitive rate. Altruist seeks to provide a competitive interest rate on cash in Altruist Cash accounts by depositing cash at partner banks where it earns interest. The current rate is 5.1%
  • Protection. Up to $1M FDIC insurance, up to $2M for joint accounts through partner banks
  • Customers can initiate withdrawals at any time from the Altruist Cash account via ACH, wire, check, or internal transfer. Withdrawals will be processed same day if submitted prior to cutoff times (Wires: 2:30PM ET, Check: 12:30PM ET, ACH: 2:30PM ET) on weekdays, excluding certain holidays. Withdrawals submitted after cutoff times or on weekends or holidays will be processed the following business day. Cash can be digitally journaled to any other Altruist brokerage account with same-day availability of funds.
  • No minimums. There are no balance minimums associated with Altruist Cash and no interest rate tiering.
  • No set-up or annual maintenance fees. Other fees may apply. See our fee schedule for fee details.

 Details on Interest

  • Interest is accrued daily and paid monthly on the last business day of the month. Cash starts earning interest and becomes eligible for FDIC insurance when it’s deposited with program banks.
  • Please note that the APY on Altruist Cash may fluctuate with the prevailing interest rate environment.

CochranMickels Retirement Specialist is excited that our partner custodian, Altruist, can offer this rate for our clients!  If you are interested in learning about this and more, do not hesitate to call us at 256-417-4870.


Mike Mickels is the President and Chief Compliance Officer of CochranMickels Retirement Specialists, LLC and an avid sporting clay competitor. CochranMickels Retirement Specialists provides personalized planning and investment services to individuals approaching and in retirement. CochranMickels Retirement Specialists, LLC is a registered investment adviser. This platform is solely for informational purposes. Advisory services are only offered to clients or prospective clients where CochranMickels Retirement Specialists, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. As a registered investment advisory firm, we are restricted from posting, publishing or otherwise disclosing any form of testimonial which is related to our investment advisory services.


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