J.P. Morgan partners with cash management platform Trovata

J.P. Morgan partners with cash management platform Trovata
Trovata will host the Morgan Money corporate investing and trading solutions.
DEC 13, 2022

J.P. Morgan Asset Management is upping its cash management game at a time when volatile equity markets and higher interest rates have made cash a more worthwhile allocation strategy for financial advisers.

The $2.3 trillion asset manager announced a partnership Tuesday with bank connection platform Trovata Partners to help customers tap into Morgan Money’s services to access higher cash yields.

“Now more than ever, corporate treasury investors need a fully integrated trading solution for their liquidity needs,” said Paul Przybylski, head of product strategy and Morgan Money at J.P. Morgan Asset Management.

“Bringing two of the newest and fastest growing experiences in corporate finance and treasury together makes for a powerful combination for our customers,” he said.

Trovata will host the Morgan Money corporate investing and trading solution as the first third-party app on its platform. Users will have the ability to transact across their global portfolio in real time and compare funds across multiple managers, currencies, durations or settlement options.

Investment balances and transactions from Morgan Money will flow into Trovata in real time so that operating and investing activities can be monitored and managed in one place, delivering a unified experience for managing operating cash flows and investments.

“Finance and treasury clients are seeking to automate and streamline how their work gets done each day,” said Brett Turner, Trovata founder and chief executive. “We expect that Trovata and Morgan Money will be the go-to modern toolbox to manage cash and investments.”

As the Federal Reserve continues to push interest rates higher in an effort to combat stubbornly high inflation, cash accounts have become an attractive tool for financial advisers.

According to Bankrate.com, some online banks are offering yields on savings accounts in the 4% range.

With cash looking like one of the few asset classes that will produce a positive return in 2022, and with advisers still asking clients to keep several months’ worth of liquidity available for emergencies, cash management platforms have become all the rage.

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