Reduced spending power and poor returns on cash deposits often leads to a conundrum for those managing cash deposit(s) who want greater returns but want to minimise risk. With constant economic uncertainty, poor returns, obstacles with changing banks it is no surprise there is often reluctance to seek better rates.
Far too often, finding the best interest rate means completing extensive research, ploughing through pages of terms and conditions, completing applications, providing documentation then arranging for funds to be transferred then finding out a better rate is available a month later.
Cash as an asset can represent a significant challenge for wealth managers, creating a disconnect with their joined-up view of the client’s portfolio and compromising their ability to provide insight-led, timely investment advice. Historically this has resulted in sub-optimal outcomes for both client and adviser, but forward-looking wealth management companies are increasingly adopting a FinTech solution to this ‘cash conundrum’; the Flagstone cash deposit platform.
Flagstone Investment Management a Wealth management service that provides a cash deposit platform. The platform provides access to over 500+ deposit accounts from over 30 banks and uses can then research, compare and open as many accounts as they require in 5 simple steps.
Their platform uses technology that enables individuals and organisations to find exclusive interest rates, find the right account type and liquidity. The tool has been designed to eliminate the need to complete extensive applications, helping those managing cash deposits earn more interest income.
Robert says:
“Flagstone offer a solution which finds the best rate on the market but reduces the administrative strain. Overall it is simple, smart and efficient.”
Our Thoughts
GOOD FEATURES
- Simple, forward-thinking platform.
- Platform can be used with a number of different types of individuals and organisations.
GREAT FEATURES
- The platform provides access to over 500+ deposit accounts from over 30 banks and uses can then research, compare and open as many accounts as they require in 5 simple steps.
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Clear and Transparent fees combined with preferential, and often exclusive interest rates.
Improvements
- Automatically change accounts to achieve a better rate.
- Allow users to access cash during the fixed term period.
- Increase flexibility for minimum investment value.
- Introduce a mobile application.
