ABG Services,Inc.

Welcome to ABG Services online

Mission Statement

“ABG Services Incorporated was established to provide a competitive marketplace where institutional portfolio managers can purchase federally insured Certificates of Deposits through a platform of deposit programs consisting of hundreds of federally insured financial institutions nationwide.”

Background

ABG Services was founded in 1997 on the basis of facilitating deposit placements between FDIC-member financial institutions and portfolio managers of state & federal credit unions, non-profit organizations, banking institutions and trust companies. By the year 2000, ABG expanded their deposit services to business managers of local government entities such as school districts, counties and other state and local municipalities. Today, ABG is one of the leading deposit referral companies in the industry executing over 24,000 transactions annually.

ABG is owned and managed by its three partners who set and oversee the firm’s business strategies and objectives. Andrew Bayliss is the firm’s President; Vincent Arma is Vice President and Head of Investor Sales; and Dominick Gallelli is the Treasurer and Director of Banking Deposits. All three partners have a combined experience of over 60 years in the CD industry.

ABG has one affiliated company, ICD Securities Incorporated, which is a registered broker-dealer and member of the FINRA (Financial Industry Regulatory Assocation). ICD specializes in underwriting brokered certificates of deposits registered through the Depository Trust Company. It also provides investment services to financial managers of banking institutions, credit unions and municipal entities.

Deposit Volume

ABG has referred over $15 billion dollars in bank deposits with federally insured institutions since its inception. The majority of our placements have been with institutional depositors; however in the past 3 years public funds represent nearly 65 percent of the overall placements.

Deposit Programs

ABG engages in 6 types of deposit placements:
  • Direct Deposits - ABG will refer depositors directly to the bank without third party involvement.
  • Preferred Deposits - These deposits allow ABG to facilitate the paperwork between its clients and your institution. This ensures that all our clients’ information is received properly and in a timely fashion. It also assists your staff in gathering the information needed to set up accounts without having to contact numerous authorized individuals.
  • Collateralized Deposits - For banks seeking large deposit placements who are willing to pledge a permitted form of collateral such as a Federal Home Loan Bank Letter of Credit or a portfolio of assets (U.S. Treasuries ~ Government Agencies) in a third-party custodial account.
  • Uncollateralized Deposits - For banks seeking large deposit placements that do not require any pledging beyond the FDIC insurance limitation of $100,000. Qualified banks must meet strict credit parameters.
  • Total Cost Deposits - These brokered deposits are best suited for well-capitalized banks who are seeking a cost effective way of attracting funds at rates below the current national market.
  • Depository Trust Program - For banks who are seeking large deposits through the brokered DTC market with minimum placements of $1 million or more.

To discuss further details of our program or inquire about what rates are needed to attract funds, please contact your Funds Specialist today at 1.800.807.3447.

Click here for the NCUA website.

Click here for the FDIC website.

  • 3920 Veterans Memorial Hwy., Suite 4
  • Bohemia, NY 11716
  • 1.800.807.3447
  • Fax: 631.580.1806