MaxMyInterest’s cash management platform has become integrated with the Morningstar ByAllAccounts aggregation service for advisors.
The initial integration includes the ability to deliver client balance information into 40 platforms used by advisors for their client reporting, MaxMyInterest said.
The integration will enable MaxMyInterest to “reach a wider group of financial advisors and enable them to better serve their clients,” Michael Halloran, head of Partnerships and Business Development at Max, said in the announcement.
Currently, MaxMyInterest and the Max For Advisors program allow advisors from more than 1,000 wealth management firms and their clients better manage portfolio cash and held-away cash while earning preferred rates at some banks, with “top rates that currently deliver more than five times the yield of a typical money market fund or 80 to 100 basis points more than a traditional bank or brokerage firm, all while remaining same-day liquid and FDIC-insured,” he added.
Morningstar ByAllAccounts uses artificial intelligence to collect, consolidate and enhance financial data that can be delivered into any platform, providing clients with a unified view of their investment holdings.
E-Trade Launches API Developer Platform
E-Trade Financial Corporate Services launched the application programming interface-based E*TRADE Equity Edge Online (EEO) Developer Platform.
The new platform enables stock plan administrators and their technology teams to create APIs that “leverage the extensive capabilities” of E-Trade’s Equity Edge Online platform, including submitting participant, grant, payroll and transactional data, the firm said.
Additional Developer Platform functionality includes the ability to: Move data in and out of EEO in a more customizable, configurable and efficient format; automate workflows that were historically manual processes, ultimately streamlining key tasks including onboarding; integrate applications and payroll directly into EEO; and monitor, manage and govern participant transactions more easily, the company said.
“Especially in this remote-work environment, stock plan administrators depend on efficient and easy-to-use technology to keep their day-to-day operations running smoothly,” according to Scott Whatley, president of E-Trade Corporate Services.
Envestnet Rolls Out New Advisor Playbook
Envestnet introduced The Advisor’s Playbook for Leading Your Clients Forward that outlines the COVID-19 pandemic’s “far-reaching impact on the wealth management industry — and the steps financial advisors can take to adapt,” it said.
The Advisor’s Playbook for Leading Your Clients Forward can be downloaded at https://www.envestnet.com/leading-clients-forward.