Flourish Cash Partners with EverSource for Wealth Management Services
Flourish, a prominent wealthtech platform, has announced a strategic partnership with EverSource Wealth Advisors, an independent wealth management firm. This collaboration is set to transform how registered investment advisors (RIAs) manage cash for their clients, enabling them to offer modern solutions for cash management amidst changing financial landscapes.
The Role of Flourish Cash in Wealth Management
EverSource Wealth Advisors has decided to integrate Flourish Cash into their offerings. This partnership allows EverSource-affiliated advisors to invite their clients to take advantage of Flourish Cash's competitive rates on cash holdings. Enhanced FDIC insurance coverage is also a key feature of this service, providing protection up to $30 million for two-person households through its associated Program Banks.
Enhancing Client Benefits
This integration is a game-changer as it empowers advisors to manage client assets that typically go unnoticed. According to Rhonda Hitchcock, Chief Operations Officer at EverSource, this service has encouraged advisors to increase their asset management efforts and ensure clients receive higher earnings on previously underutilized cash reserves. The user-friendly nature of Flourish Cash seamlessly blends into the existing workflows of advisors, allowing for a more comprehensive approach to wealth planning.
Strengthening Advisor-Client Relationships
Max Lane, CEO of Flourish, emphasizes that the platform is designed to support financial professionals who seek to offer their clients actionable and beneficial financial solutions. With Flourish Cash, advisors can now attractively present strategies that potentially bring greater returns on clients' reserve funds. This approach not only creates a pathway for financial growth but also fosters stronger relationships between advisors and their clients.
A Platform Trusted by Thousands
More than 1,100 RIAs, managing a staggering $2.6 trillion in assets, currently utilize Flourish to fulfill their clients' financial plans. The platform's capabilities allow independent advisors to evolve their services from mere advice to actionable implementations, enhancing competitive advantages in the marketplace. Flourish enables advisors to showcase their branding while providing marketing materials and premium support for enhanced client engagement.
Flourish's Commitment to Innovation
Flourish is dedicated to providing technology solutions that enhance the financial advisory experience, resulting in improved financial outcomes for clients. Their platform manages over $8 billion in assets and caters to firms handling a combined $2.6 trillion in assets under management. Flourish's affiliation with Massachusetts Mutual Life Insurance Company further bolsters its presence in the industry.
About EverSource Wealth Advisors
Founded in 2017, EverSource aims to support faith-driven financial advisors seeking independence while fostering a culture aligned with their values. The firm reduces operational complexities for advisors by offering consulting on practice management, comprehensive technology support, and more. This dedication to assisting financial professionals has positioned EverSource as a valuable partner within the advisory landscape.
In summary, the collaboration between Flourish and EverSource Wealth Advisors represents a significant advancement in the services offered by financial advisors. By integrating innovative cash management solutions, these firms not only simplify financial processes but ensure that advisors can provide substantial value to their clients. This relationship stands as a testament to the ongoing evolution of wealth management, driven by technology and a commitment to client success.
Frequently Asked Questions
What is Flourish Cash?
Flourish Cash is a financial service that provides cash management solutions for advisors and their clients, offering competitive rates and enhanced FDIC insurance coverage.
How does the partnership with EverSource benefit clients?
The partnership allows EverSource advisors to offer clients better returns on cash holdings and integrate cash management into holistic wealth planning.
Who can use Flourish Cash?
Flourish Cash is available to clients of EverSource-affiliated advisors, allowing them to access improved cash management solutions.
What is the significance of FDIC insurance in this partnership?
FDIC insurance enhances the security of funds deposited through Flourish Cash, providing coverage up to $30 million for eligible households.
How many RIAs are using Flourish?
Over 1,100 RIAs are currently utilizing Flourish, managing approximately $2.6 trillion in combined assets.
