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New platform to allow wealth managers access to best cash rates

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A new online platform from Flagstone Investment Management should ‘shake up’ the GBP2.1 trillion cash deposit market, according to the firm. 

The new platform will allow wealth managers, charities, corporates and high net worth individuals to increase their interest income by providing instant access to rates on cash accounts in multiple currencies, onshore and offshore, without having to go through the process of applying to each bank individually.
 
Andrew Thatcher, Managing Partner at Flagstone, said: “The beauty of what we offer lies in its simplicity. Our service enables users to trade electronically, accessing deposit rates across a host of major banks and to reduce risk by easily diversifying cash deposits between many different counterparties. All reporting is customised and, crucially, users only need to sign one agreement with us in order to access our entire range of cash deposits thereby significantly reducing their administration burden.”
 
Flagstone estimates that there is around GBP2 trillion of cash in the UK – much of it earning significantly less than market leading rates

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