Putting Your Cash To Work

A Professional Treasury Bill Management Program for the Discerning Investor

Most individual investors leave significant money on the table by defaulting to money market funds, bank savings accounts, or CDs for their cash holdings. We offer a better solution: a professionally managed U.S. Treasury bill program, in which we handle every aspect of the purchase, roll, and reinvestment cycle on your behalf.  Here is why this program consistently delivers superior after-tax, risk-adjusted outcomes for our clients.

I. The State Tax Advantage Changes Everything

Interest earned on U.S. Treasury securities is exempt from all state and local income taxes by federal law — an advantage that no money market fund, savings account, CD, or bank product can fully replicate. For clients residing in high-tax states such as California (up to 13.3%) or Hawaii (up to 11%), this exemption is transformative.

Consider a client with $1,000,000 in cash in California. A money market fund yielding a gross 3.5% generates $35,500 in gross interest — but after applying the state’s top marginal rate, the after-state-tax interest falls to roughly $30,700. Our managed T-Bill program retains the full amount at the state level.

II. Maximizing Yield

Our active rolling strategy ensures clients capture the prevailing market yield at each reinvestment cycle — this is typically monthly or based on personal liquidity needs. Rather than being locked into a CD rate set months ago, or accepting whatever yield a fund manager achieves after costs, clients benefit from disciplined, timely reinvestment at current market rates and with their unique cash flow needs.

III. Unparalleled Credit Quality — Without Concentration Risk

U.S. Treasury bills are direct obligations of the federal government, held in book-entry form at the Federal Reserve — entirely outside the banking system. Unlike FDIC-insured deposits, there is no coverage cap. A client holding $5,000,000 in T-Bills bears no more credit risk than one holding $100,000. Bank savings accounts and CDs, by contrast, expose balances above $250,000 to unsecured depositor risk — requiring costly and administratively burdensome spreading across institutions.

IV. Professional Liquidity Management via Laddering

We construct and maintain a custom T-Bill ladder for each client — for example, staggering maturities across 4-, 8-, 13-, and 26-week bills so that a portion of the portfolio matures on a predictable, rolling schedule. This ensures liquidity without sacrificing yield to shorter maturities. For anticipated cash needs, we coordinate reinvestment and redemption timing proactively, so clients are never forced into the secondary market at an inopportune moment.

V. How We Compare

	Our T-Bill Mgmt	Money Mkt Fund	HY Savings	CD	Checking
State & Local Tax	Exempt	Taxable	Taxable	Taxable	Taxable
Credit Quality	US Govt	Mixed	FDIC $250K	FDIC $250K	FDIC $250K
Liquidity	T+1 / Ladder	Same Day/ T+1	2–6 Day ACH	Penalty	Immediate
Professional Mgmt	Yes	Delegated	None	None	None

Our Commitment

We believe cash management deserves the same rigor as any other asset class. Our Treasury Bill Management Program delivers institutional-grade execution, full transparency, and measurable after-tax outperformance. 

We invite you to reach out to us to discuss your cash management needs and look forward to putting your cash to work.