The risk of keeping funds in a Mayfair account is very low as the funds are kept in cash instead of being invested in other financial instruments. Even if the underlying bank were to fail, as long as the account is below the $250k FDIC insurance limit (and you have no other accounts at partner bank), the funds are fully insured by the FDIC.
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Some of our clients may opt in to enjoy enhanced FDIC protection, in which case, their funds are “swept” across multiple accounts each enjoying the maximum of coverage provided by the FDIC. This sweep network essentially allows you to enjoy the maximum of $250k in FDIC protection multiple times across multiple banks, a practice acknowledged and endorsed by the FDIC. Currently, we offer up to $50m in enhanced FDIC protection, all from the convenience of one dashboard.

Since its formation in 1933, the FDIC has never failed to fulfill its obligation to protect depositors.