Yes, uninvested cash held by Choice / Kingdom Trust, for the benefit of clients, is held in financial institutions covered by the FDIC. FDIC insurance covers up to $250,000 per account and applies to cash deposits only. There are some circumstance whereby FDIC insurance may not be available for 100% of a client’s uninvested cash (e.g. when clients hold cash balances significantly over $250,000).
Please note that FDIC insurance does not insure a client’s investment(s) and only applies to uninvested cash.