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.
Chirayu Rana has added two executives as defendants after dropping his state case against JPMorgan Chase last week.
A class action over the digital brokerage's cash sweep program only hints at an industry-wide reckoning over how client cash is handled, says Gary Zimmerman.
New tool lets advisory teams manage shared retirement-plan accounts en masse as Vanguard retirement plan data show rising exposures to equities across demographics.
Three in four Americans can’t estimate their net worth without checking an app or account, according to a new Western & Southern survey.
Ameriprise's tech spending declaration lands amid a wider broker-dealer arms race, with Edward Jones, Raymond James and LPL all expanding AI tools for advisors
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
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
