In a year that has been like no other, one thing is clear: More investors are shifting to cash to help them weather volatile markets. According to Envestnet | Yodlee client householding trends data, the allocations to cash per household account from January 1st to August 1st increased by 34% as clients responded to market volatility. Likewise, client contributions to household savings over the same period were consistent and significant. However, we saw client contributions to household savings drop by 32% from July 1st to August 1st as markets regained some stability.

As you help clients manage through uncertain times, cash management has become an essential investment strategy. To support you in the new world we’re living in, Envestnet | Tamarac® now offers you access to the Flourish platform. Here’s a look at the reasons why many advisors choose this cash management platform to add more value to their clients:

  1. Competitive variable rates. With yields on the average money fund close to zero, your clients are looking to earn more. With Flourish, clients can earn a competitive variable interest rate on their cash, based on a tiered interest rate structure. Flourish finds the best rates for your clients’ cash balances, especially valuable for those with high cash positions.
  2. FDIC insurance coverage. With FDIC insurance coverage of $2 million through its program banks, asset safety is top of mind with Flourish. Because Flourish partners with multiple banks, your clients may be eligible to receive higher FDIC insurance coverage than through any individual bank account.
  3. A holistic view of client accounts. The integration of all your clients’ account types in one place lets you focus on holistic financial advice. Through the Tamarac Client Portal, clients can see the big picture, and you’re better equipped to guide them in the achievement of their short- and long-term goals. This comprehensive approach to financial planning can help your clients understand their full financial picture — and how specific decisions can impact their finances and goals.

Tamarac’s industry-leading cash management capabilities

In addition to the Flourish platform, Tamarac Trading offers a robust suite of cash management tools to support your clients’ needs. Our cash monitoring capabilities and cash reserves feature make it easy for you to maintain proper cash balances for each client’s unique requirements while adhering to the model, account restrictions, and tax sensitivity settings.

Your next step

To learn more about Flourish and how you can unlock the platform to help your clients better manage their cash holdings, visit www.flourish.com/learn/advisors. If you’re an existing Tamarac client and already using Flourish but now want to access the data feed through the Tamarac platform automatically, please reach out to your dedicated service team. We’re here to help you with the simple Flourish integration process.

Flourish and Envestnet are separate and unaffiliated firms, and are not responsible for each other’s services or policies. This should not be construed as a recommendation or endorsement of any particular product, service, or firm.

Written by Brian Daley

Brian has been a member of the Tamarac team since 2010. He has worked with hundreds of firms as they have adopted the Tamarac platform, from the smallest single-person firms to organizations with over a hundred offices located throughout the country. Most recently, Brian has focused most of his time working with the largest Tamarac organizations to streamline and make more efficient their use of technology as it relates to Client Portal, Billing, Client Reporting, Trading, and Workflow. Brian joined the sales organization in 2019 to assist RIA organizations in the decision-making process for improving their back office and client-facing technology.

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