British wealth manager St. James’s Place (SJP) has joined forces with financial technology firm Flagstone to launch a new online cash management platform for advisers.
The new client cash service provides access to nearly 350 instant access, notice and term deposit accounts from over 20 British lenders.
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Private individuals, micro, small and medium-sized enterprises (SMEs) and charities with a minimum amount of £250,000 can access multiple deposit accounts with different banks and transfer the funds between these accounts.
The platform will also allow customers to identify risk by diversifying across accounts.
SJP divisional director of strategy and banking Peter Coulter said: “Being able to manage cash holdings efficiently is fundamental to the needs of our clients. That’s why we’re committed to developing a range of banking services that help our partners deliver truly holistic wealth management.”
