NEW YORK, July 21, 2020 /PRNewswire/ -- Companies that use
stock plan services provided by Siebert Financial Corp. (NASDAQ:
SIEB) now have a powerful new enhancement to help boost plan
participation. Siebert, through its broker-dealer subsidiary
Muriel Siebert & Co., Inc., is
adding Carver Edison's patented Cashless Participation™
technology to its platform. Cashless Participation helps employees
maximize their contributions to their company-sponsored stock plans
without additional payroll deductions.
The technology has been proven to provide plan participants with
50% to 150% more company stock without additional payroll
deductions. Siebert's clients can configure Cashless Participation
to include share utilization and compensation expense limits.
Carver Edison Founder and CEO Aaron
Shapiro explained the significance of this new partnership,
"Every day, we work to help companies increase the compensation of
their global workforce while creating value for shareholders.
Partnering with Siebert to deliver Cashless Participation to their
clients expands our ability to accomplish this."
Mr. Shapiro also emphasized the important legacy of Muriel Siebert, "Ms. Siebert was the first woman
to own a seat on the New York Stock Exchange and lead one of its
member firms. She was a powerful advocate for diversity, financial
inclusion, and transformative financial products.
Siebert's new ownership group is focused on fulfilling her
legacy. To that end, a portion of the proceeds from Cashless
Participation for Siebert clients will be donated to a charity of
the issuer's choice through a newly created Cashless Participation
"We're excited to bring Carver Edison groundbreaking technology
to our clients," said Eric Tassell,
SVP of Siebert Corporate Services. "As a brokerage firm for the
digital age, our goal is to deliver an exceptional client
experience through innovation and new advances. Cashless
Participation is a powerful new way to maximize purchase plan
benefits and promote employee ownership for our clients and their
Founded in 1967, Siebert is a renowned brokerage firm
specializing in equity compensation plans, managed portfolios,
insurance, and investments.
For information on Cashless Participation, visit
About Carver Edison
Carver Edison is a New York City-based financial technology
company committed to revolutionizing Employee Stock Purchase Plans
(ESPPs). Carver Edison works with public companies to increase
stock plan participation rates through its Cashless Participation™
technology and education platform, Carbon™. The company is backed
by leading fintech entrepreneurs and executives, including
Eli Broverman, co-founder of
Betterment, and Jeff Cruttenden,
co-founder of Acorns. Its Cashless Participation technology was
recognized by Fast Company Magazine as a World Changing
About Siebert Financial Corp.
Siebert Financial Corp.
is a holding company that conducts its retail brokerage business
through its wholly-owned subsidiary, Muriel
Siebert & Co., Inc., which became a member of the New
York Stock Exchange ("NYSE") in 1967 when Ms. Siebert became the
first woman to own a seat on the NYSE and the first to head one of
its member firms. The company conducts its investment advisory
business through its wholly-owned subsidiary, Siebert AdvisorNXT,
Inc., a registered investment advisor, and its insurance business
through its wholly-owned subsidiary, Park Wilshire Companies, Inc.,
a licensed insurance agency. Siebert conducts operations through
its wholly-owned subsidiary, Siebert Technologies, LLC., a
developer of robo-advisory technology. Siebert also offers prime
brokerage services through its fifth wholly-owned subsidiary, WPS
Prime Services, LLC, a broker-dealer registered with the SEC.
Siebert is headquartered in New York
City with offices throughout the continental U.S. More
information is available at www.siebert.com.
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SOURCE Carver Edison