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.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Survey finds AI widely embedded in research and analysis, but barely touching portfolio construction or trade execution.
Two firms land teams managing more than $1.1 billion in combined assets from Kestra and Edward Jones.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
