Manage Client Cash

Everything we do is about giving you the flexibility to deliver your proposition, your way, whatever the needs of your clients.

Whether it’s to pay fees, take income or investing to meet different goals and objectives, managing client cash plays a central role in just about everything.

Cash Management

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.

Cover fees and charges
by setting aside cash, rather than including it in a model portfolio

Allocate income payments and protect from rebalances

Or you can still use a model portfolio to automatically top up a cash account

What advisers say

Watch: Financial planners Advanta Wealth on managing client cash during the Covid-19 pandemic

with Craig Webster, Chief Executive and Iain Valentine, Financial Planner.

Is the ongoing coronavirus crisis prompting 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.

What advisers say

Jason Hemmings, Cornerstone Asset Management

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.”

Read more

Brett Baker, Premier Financial Management

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."

Read Brett’s view

What to do next

Training and Support

The changes to functionality are really straight forward, but if you’d like more information on how they work, we’ve created a new Knowledge Bite, which shows you how to exclude cash from a rebalance. You can access it here.

We’ve also made some updates to the Knowledge Bites for adding a single contribution, setting up a client and conducting a money allocation and you’ll find them in the Training and Support section on the platform.

Or, if you have a Business Development Manager, give them a call and they’ll be happy to answer any questions you may have.

Platform login

Cash alternatives

In the past month we’ve seen the amount of interest paid to us by the four banks we use drop by 98%. With the knock-on effect that we’re paying out significantly less to clients, with the majority receiving on average 4p for April.  With interest rates continuing to remain low, and the potential for them to drop down to negative, you may want to review your cash proposition.

The cash account on the platform was never intended for use as an investment vehicle, so if cash is part of your investment strategy, we have a number of cash funds available that you can search for on the platform.


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