Bruce Bent II Oversee An Innovative Financial Technology Corporation

Money Market Funds are are short-term vehicle in which one can invest their money. The money market mutual fund as it is sometimes called, invests in such investment vehicles as US Treasury bills and commercial paper.

According to Wikipedia, The US Treasury bill, backed by the U.S. government, is a short-term debt. The T-Bill can be bought in varying denominations from as low as $1000 to as high as $5million, with maturity debts issued at a discount. Note: T-bills can have a maturity date that stretches from 1 month to 30 years. In past years, the US government had stopped issuing the 20 and 30 years bonds. However, as of 2017, these bills are now available.

Why the attraction to the US T-bill? It offers low risk and you will earn a guaranteed return on your money. For instance, an investor can purchase a $1,000 treasury bond at a discount of $950. Let’s say the bill has a 1 year maturity date. When that bill matures within that time frame the investor will have gained a $50 profit off the T-bill.

There are both benefit and drawbacks. The benefits include:

  • They are low risk investment.
  • Backed by the US government.
  • They are exempt from state and local taxes.

The drawbacks include:

  • Low return.
  • Subject to federal taxes

Vice Chairman and President of Double Rock Corporation and it’s subsidiaries and affiliates, Bruce Bent II, oversees the most innovative, financial technology business.

Bruce Bent II career has rested solely with Double Rock. His work with Double Rock has helped the company to change the cash management industry into multi-trillion dollar industry. Under his guidance, Access Control Advantage, a subsidiary of Double Rock, developed an automated contribution plan loan solution that has help reduce borrowing by plan participants by 25%.

Bent II is on the board of the Young Presidents’ Organization (responsible for connecting global business leaders worldwide), served on the President Advisory Council of Scenic Hudson (an environmental organization), and a former chairman of Gotham Chapter in Manhattan.

He received his BS in Philosophy from Northeastern University.

For more information on Bruce Bent follow him on Twitter.

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