Today, Six Trees Capital’s MaxMyInterest announced a new client-onboarding feature for its automated cash management system. The new client-invitation element enables advisers to fill in customer data to preregister them for an account, saving the client time and effort during the tedious onboarding process and helping to reduce abandonment.
Advisors who preregister clients receive read-only access to their balance information. This comprehensive view of a client’s account helps the adviser throughout the financial planning process. In a release, CEO Gary Zimmerman, founder, says, “In 2015, we eliminated the need for clients to enter their name and address multiple times to open multiple bank accounts. Now, clients don’t have to enter their name and address even once.”
At FinovateFall 2014, MaxMyInterest launched its Intelligent Funds Transfer technology that uses an algorithm to determine the optimal cash allocations in a user’s bank account to, as the name suggests, maximize interest received.
While the New York-based company still maintains its consumer-facing brand, it has recently launched several features for advisers, who turn to MaxMyInterest for the higher yield and broader FDIC insurance that it offers for cash accounts. New adviser features include an adviser dashboard and a co-branding option.