Flourish / Wealth Management IQ Survey Finds Advisors Vastly Underestimate Clients’ Held-Away Cash Holdings
Key findings and insights include:
- Key findings and insights include:
Clients’ cash holdings are vastly underestimated: Surveyed advisors believe their average client holds 7% of their net worth in cash, while high net worth individuals actually hold more than 30% of their net worth in cash . - Clients want high yield on their cash: 92% of advisors report that their clients have expressed interest in high-yield savings accounts (HYSAs).
- Advisors have the opportunity to improve relationships while helping clients earn more by offering a cash management solution to every client."
- Flourish Cash , Flourish’s cash management solution, built explicitly for RIAs, offers clients competitive interest rates and elevated FDIC insurance through its Program Banks.