A cash account offering advisers the "unprecedented" benefit of earning commission on deposits and paying the highest rate of interest of any platform has been launched by Fidelity FundsNetwork.
The CashManager Account will “shake up” the advised platform market, Fidelity says, adding cash could prove a highly significant asset class given current market conditions. Linked to the client’s own current account, CashManager provides a cash holding facility and a complete overview of a client’s investible assets. Fidelity says the product has also been designed to “evolve” alongside the market helping advisers tackle the implications of the Retail Distribution Review (RDR) and changes to remuneration in particular. It says CashManager is the only platform-based cash management accou...
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