Cash management can be essential for meeting individual suitability at any stage of a client’s journey. But it’s particularly relevant for your retirement proposition, where clients will be most reliant on income. As part of our commitment to choice and flexibility, we’ve introduced more options to ring-fence your clients’ cash on an account-by-account basis, in the way most appropriate for them.
with Craig Webster, Chief Executive and Iain Valentine, Financial Planner.
Did the coronavirus crisis prompt you to adapt how you manage cash for clients – perhaps holding extra cash or rebalancing more often - or are you staying the course?
We had a video chat with financial planners, Advanta Wealth, about why flexible cash management has become all the more important for them in 2020 – whether it’s to phase a large sum into markets or help ease clients' nervousness about their finances during this challenging time.
Jason Hemmings from Cornerstone Asset Management tells us why advisers should play an active role helping clients who want to hold cash separately outside a model portfolio. He explains how the Platform's ring-fencing functionality enables this, without the need to create a second wrap account.
“Good cash management is particularly important if you want to run a compelling retirement offering.”
Brett Baker from Premier Financial Management explains how he manages cash for clients who are taking income and why ring-fencing cash may be needed as an ‘extra buffer’ in the current dividend crisis.
"Ring-fencing cash ensures that automated sell down won’t happen and also reduces administration."
Our survey shines a light on the many different ways firms adopt and use CRPs in their businesses.
A group of independent financial advisers with AUA of £179m. The majority of the firm’s clients are in retirement.
A firm of Chartered Financial Planners offering comprehensive independent financial advice with £150 million AUA. The firm’s clients are, on average, between 55 and 60 years old. Around 60% of the client base is in decumulation.
We ran a set of roadshows focussed on planning for a sustainable income earlier in the year.