Quilter has expanded its CashHub savings service, provided by Bondsmith, to offer CashHub MultiBank.
The adviser focused platform launched the service early last year for individual clients, and now it is also available to corporates, trusts and charities.
CashHub allows advisers to view their clients’ cash savings alongside their Quilter platform investments.
The service now includes access to CashHub MultiBank, which enables deposits to be automatically diversified across multiple banks.
This significantly increases FSCS protection up to £255,000 per person, and offers a blended interest rate.
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The minimum CashHub deposit is £100,000 for all ‘non-personal’ accounts and £1,000 for individual and joint accounts.
Quilter said CashHub holdings are integrated into platform valuations, providing “a more accurate picture of overall wealth.”
As part of the expansion, bulk valuations will now be available. Savings within a CashHub account will be integrated into adviser client management systems.
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Steve Gazard, chief distribution officer at Quilter, said: “These enhancements significantly boost protection for clients’ cash holdings and demonstrate our commitment to meeting the diverse needs of advisers and their clients, including corporate accounts.
“By providing a robust, integrated cash management solution, advisers have greater visibility of their clients’ cash holdings, enabling informed and holistic financial planning discussions. We are dedicated to continuously improving our platform to support advisers in delivering exceptional value to their clients.”
