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.
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“It was a third party scam,” said the attorney representing the claimants.
Meanwhile, &Partners draws another Commonwealth practice, and Wealthcare welcomes a $550 million planning practice in the Northeast.
Palo Alto AI platform recruits RIA and fintech leaders as industry data show AI adoption reshaping advisor staffing.
Meanwhile, Raymond James, Wedbush, and LPL recruited veteran advisors from across Texas, North Carolina, and California.
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Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
