Why Managing your Cash is Essential within the Financial Planning Process

Your Cash is your most significant and fundamental financial asset
A Financial Adviser should be able to show you how to get the Best Value from your Cash
A Financial Adviser should be able to show you how to make sure your Cash is fully protected by the Financial Services Compensation Scheme
If you can meet all of your financial planning objectives by maximising the value of your cash you will not need to undertake any investment risk.
Maximising the value of your cash as well as undertaking other beneficial financial planning activities will increase the overall value of your wealth
If a Financial Adviser does not know how to maximise the value of your cash they are less able to determine your best investment solutions

Individuals

Businesses

Charities

Trustees

Power of Attorneys

Court Deputies

Cash held in a SIPP or SSAS

Are you an Accountant or Solicitor that refers clients over to a Financial Adviser?

Accountants

Solicitors

The most common cash management issue for the holders of cash deposits:

Individuals - Generally hold too much money in poorly rated deposit accounts earning very little interest and also do not know whether or not their money is protected by the Financial Services Compensation Scheme.
Business owners - Generally hold too much cash that is not protected by the Financial Services Compensation Scheme (Note: Some businesses do not even qualify for the protection of the Financial Services Compensation Scheme which puts ALL of the business money at risk in the event of a bank or building society collapsing).
Charities - Generally hold too much cash that is not protected by the Financial Services Compensation Scheme (Note: Some charities do not even qualify for the protection of the Financial Services Compensation Scheme which puts ALL of the business money at risk in the event of a bank or building society collapsing).
Trustees - Generally hold too much money in poorly rated deposit accounts earning very little interest and also do not know how it is protected by the Financial Services Compensation Scheme because this depends entirely upon the type of Trust wihtin which the money is held and it differs for different types.
Power of Attorneys - Generally hold too much money in poorly rated deposit accounts earning very little interest for their Ward and also do not know whether or not their money is protected by the Financial Services Compensation Scheme.
Court Deputies - Generally hold too much money in poorly rated deposit accounts earning very little interest for their Ward and also do not know whether or not their money is protected by the Financial Services Compensation Scheme.
Holders of SIPPs or SSASs - Holding too much money in the nominated account of the SIPP or SSAS provider will seriously damage the value obtained and will limit the amount of protection afforded by the Financial Services Compensation Scheme.
Accountants - Refer all of your clients that hold more than £85,000 on deposit to make sure it is fully protected by the Financial Serivces Comepnsation Scheme. You should also have your clients checked to make sure that their moeny actaully "qualifies" for the protection of the Financial Services Compensation Scheme because NOT ALL businesses do.
Solicitors - Refer all of your clients that hold more than £85,000 on deposit to make sure it is fully protected by the Financial Serivces Comepnsation Scheme. You should also have your clients checked to make sure that their moeny actaully "qualifies" for the protection of the Financial Services Compensation Scheme because NOT ALL businesses do.

Have an effective proposition to manage cash reduces RISK to the client, the financial adviser and any accountant or solicitor who wishes to refer their clients to a financial adviser where appropriate.

Cash is a very important part of all financial planning. Yet it is over-looked by the majority of Financial Advisers.

Clients can be exposed to unnecessary risk when they use a financial adviser that does not engage properly to help their clients to understand the value that can be achieved from their cash.

Clients can also be exposed to risk when their financial adviser does not show them how to make sure their cash is protected by the Financial Services Compensation Scheme.

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