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Simplify finances by consolidating multiple cash accounts

Cash management accounts offer many benefits

Consolidating multiple cash accounts into a single integrated account is an effective approach to help you streamline and simplify your finances. It gives both you and your financial advisor a more complete picture of your overall financial position rather than having to track a variety of accounts separately. A consolidated account offers a number of features and benefits that not only put you at ease, but also make your money work harder for you.​​





























 

Benefits and features

There are a number of benefits and features typically associated with a cash management account that will simplify and improve your day-to-day financial management as well as allow you to gain a better perspective on your long-term financial picture. Basic features of a cash management account include a single source for detailed account information, check writing, online / automatic bill pay, funds transfer and overdraft protection.

An integrated cash management account also gives you the opportunity to earn additional returns – through a cash sweep program – that would not otherwise be available if you were juggling separate accounts.

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By setting up a sweep program in your cash management account, extra monies in the checking portion can be swept into a money market account at the end of each day. There, the funds can earn interest at more competitive rates. In working with a financial advisor, you will be able to best determine the appropriate withdrawal rates to go into the sweep account. For example, if your payroll check is deposited into checking, but you only require 70% of the funds to cover certain monthly expenses, the excess amount can be automatically rolled into a money market account, where the cash earns interest beyond that of a regular checking account.

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Seeing the big financial picture

Cash plays an important role in your overall financial picture, and

consolidating it into an integrated cash management account offers

a number of benefits. Maintaining your cash accounts under one

umbrella not only enables you to control your finances

with greater ease, but also provides your advisor with a better view

of your financial position to better plan for your long-term investment

and spending goals.



Contact your financial advisor to learn more about cash management

account benefits and how to get started on streamlining your

cash accounts.





Asset allocation and diversification do not ensure a profit or protect against a loss.



There is no assurance any of the trends mentioned will continue in the future.



The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete.

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Investing involves risk and investors may incur a profit or loss.



Material prepared by Raymond James for use by its financial advisors.

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