Financial advisors using eMoney Advisor can now incorporate balances from held-away accounts into financial plans thanks to a new partnership with MaxMyInterest.
MaxMyInterest, which helps clients open and maintain bank accounts and maximize interest, is offering up to 5.1% return on cash savings. By connecting with eMoney, the fintech company is making the service available to more than 100,000 advisors using the Fidelity-owned financial planning software.
“Financial planners are looking for safer cash options in today’s higher rate environment, and Max delivers the highest yields in the market while also enabling clients to obtain broader FDIC coverage and same-day liquidity,” Michael Halloran, Max’s head of partnerships and business development, said in a statement.
Max uses a proprietary system to offer the highest rates in accounts insured by the Federal Deposit Insurance Corp., rather than broker-deposit accounts used by many companies offering advisors higher returns on client cash.
These technologies have been increasingly popular among financial advisors in the wake of high-profile collapses of Silicon Valley Bank and Signature Bank in the fall.
Plus, a $400 million Commonwealth team departs to launch an independent family-run RIA in the East Bay area.
The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.
“I respectfully request that all recruiters for other BDs discontinue their efforts to contact me," writes Thomas Bartholomew.
Wealth tech veteran Aaron Klein speaks out against the "misery" of client meetings, why advisors' communication skills don't always help, and AI's potential to make bad meetings "100 times better."
The proposed $120 million settlement would close the book on a legal challenge alleging the Wall Street banks failed to disclose crucial conflicts of interest to investors.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
