abrdn launches integrated cash solutions with exclusive rates
16 July 2024abrdn has launched new fully integrated cash solutions on its Wrap platform and has secured exclusive rates in response to adviser and client demand.
Advisers can now offer their clients a wide range of fixed term deposit and notice day accounts to suit a variety of investment goals. As cash solutions are fully integrated on Wrap, it means advisers can manage more of their clients’ assets in one place.
abrdn cash solutions will make it easier for advisers to offer clients a range of competitive cash products, allowing further diversification of the client portfolio. Cash solutions are embedded into existing platform processes making it simple and efficient to invest and withdraw money.
Holdings in the cash solutions will be included in existing platform reporting and valuations and will also be visible through the client portal. Holdings will also automatically be included in back-office valuation reports and shown alongside existing client investments.
Key features include;
- Client cash can stay on platform, even when it matures, allowing the adviser to monitor and manage as part of a portfolio
- Uses existing Wrap trading functionality to easily and efficiently invest into cash solutions
- Cash solutions can be utilised with Wrap’s multiple Personal Portfolio functionality, so clients can set up separate cash solutions to support specific savings goals.
In addition, abrdn has secured exclusive rates on the following cash deposit accounts, only available to clients on Wrap:
| Bank | Fixed term deposit | Notice day account | Min deposit | Max deposit | Term/ notice |
|---|---|---|---|---|---|
| Investec | - | 5.04% APR | £1 | £2,000,000 | 32 day notice |
| Société General | 4.67% APR | - | £50,000 | £10,000,000 | 7 months term |
| Société General | 4.58% | - | £50,000 | £10,000,000 | 12 months term |
Building on the existing Wrap investment offering, abrdn has partnered with Bondsmith, a leading provider of innovative cash solutions, to provide access to a range of banks and building societies. All products are fully protected by the Financial Services Compensation Scheme.
Russell Bignall, Managing Director at abrdn Adviser, said: “We are launching this fully integrated cash solution so advisers can take advantage of competitive cash products for their clients. It’s all part of our work to offer advisers and their clients greater investment choice on our platform.
“As part of offering a holistic financial planning service to clients and understanding changing needs, it’s vital that advisers have full sight of all their clients’ assets, not just the investments, and our fully integrated cash solution facilitates this.
“We are more than a platform, we’re a broad business helping to solve a variety of challenges for our clients. We spend a lot of time talking to advisers about the solutions they want from us to help support the changing needs of their clients.”
ENDS
Media enquiries
For further information, contact:
Rachel CashmoreE: Rachel.Cashmore@abrdn.com
T: 0734 170 3358
Notes to Editors
About abrdn
- abrdn is a global investment company that helps clients and customers plan, save and invest for the future. Our purpose is to enable our clients to be better investors.
- abrdn manages and administers £507.7bn of assets for clients (as at 31 March 2024).
- abrdn’s strategy is to deliver client-led growth. We are structured around three businesses – Investments, Adviser and ii – focused on their changing needs.
- abrdn’s Adviser business provides financial planning solutions and technology for UK financial advisers, enabling them to create value for their businesses and their clients.
- abrdn offers a combination of tools and services personalised to their needs, including access to the full suite of investment solutions that abrdn offers as well as a wide range of open architecture investment options.
- As at 31 March 2024, abrdn’s Adviser business administered £75.2bn of assets.
The value of investments and the income from them can go down as well as up and investors may get back less than the amount invested.