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MaxMyInterest introduces improved MoneyGuide integration

MaxMyInterest and Envestnet have released an update to their Envestnet. MoneyGuide integration.

This is to provide advisors using the MaxForAdvisors dashboard and MoneyGuide financial planning application more insight when it comes to helping high-net-worth clients achieve a higher yield on their cash.

MaxMyInterest, which customers sign up for themselves, is designed to reallocate cash between high-interest online banks and automatically direct funds from one online account to another, with The highest interest rate is paid on the basis.

Customers pay a fee of 0.02% per quarter on customized cash (or $20 per $100,000 held in their savings accounts, subject to a minimum of $12 every 3 months).

Extended MoneyGuide integration provides both consultants and customer service teams with increased visibility of clients’ withheld cash balances that are seamlessly visible in Envestnet. Tamarack Platform (used by RIA firms) and Envestnet, a popular platform used by independent broker-dealers and hybrid firms. No fee is charged from advisors for using the MaxForAdvisors service.

Clients can link their existing checking, savings and brokerage accounts at thousands of financial institutions to a new MaxMyInterest checking account, or they can connect the Max service directly to their existing checking account at 18 major US banks and brokerage firms.

Once this is done, the Max service continuously monitors FDIC-insured online banks including Barclays, Alley Bank, American Express, UFB Direct, LendingClub Bank, Webster Bank, Quantic Bank and Customer Bank, for higher yields. And on monthly the clients transfer the cash. Base.

More than 1,200 wealth management firms are now using MaxMyInterest/MaxForAdvisors.

In addition to its work with Envestnet, MaxMyInterest has integrations with Redtail Technologies, Orion, and Morningstar ByAllAccounts.

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