Cash does little for its owner when it is sitting in a High Street bank’s deposit account.
But the flexibility and versatility of cash as an asset is valued by advisers for the many different ways it can help clients achieve their goals.
It is not only useful for the mundane, such as a source of emergency money, for whatever clients suddenly need it for, or as a ‘float’ to pay fees and charges. Cash also provides some peace of mind in an investment portfolio during periods of volatility.
And for those clients who are attached to cash and like to keep a considerable amount of it where they can access it easily, there are options. Cash management platforms can allow them to open multiple accounts, potentially earn higher rates of interest and be protected by the Financial Services Compensation Scheme too.
This guide explores the various uses of, and the impact of the current economic backdrop on, cash.
It comes with 60 minutes of CPD.