What is a cash management service?

What is a cash management service?

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Keeping up to date with all the latest bank accounts and fluctuating interest rates is a constant challenge – one that few of us have the time or energy to research, let alone actively move our money around. Now, Acumen can do it for you. With our hassle-free cash management products, we can secure the best interest rates for your cash deposits across a variety of UK banks with just one convenient online hub.

Acumen offers convenient, secure and straightforward management of cash deposits to improve the return on your money. Opening several bank accounts to squeeze the most out of rock-bottom interest rates is a thankless task. However, with a single cash management account with Acumen, you gain access to the whole savings market. No more pounding the streets or hours of internet research; we do all the legwork to ensure your money works as hard as possible for you.

Cash management products from Acumen

“There are occasions when clients could have substantial cash deposits to manage,” says Jon Landy, Director at Acumen. “The two main concerns for them are typically how safe these cash assets will be with any one banking institution and what type of interest can they expect in return? With the cap on savings protection that invariably means that clients have to spread their assets across several different institutions, which can be a really time-consuming process.”

The Financial Services Compensation Scheme (FSCS) protects savers to the tune of £85,000 for assets held in all UK financial institutions that are regulated by the Financial Conduct Authority (FCA). The key word there is ‘institutions’ because in the unfortunate event that your banking institution failed then even if you held several accounts with them, you would only be protected up to £85,000 in total.

“As such, would always advise our clients to spread the risk between several institutions,” Jon continues. “Not only is that a safer course of action but it’s also likely to yield a better return if your cash assets are spread between accounts offering the best available interest rates. Of course, the only stumbling block is finding the time to thoroughly research these options and then visiting all of these institutions separately.”

If only there was an alternative…

Value added cash management strategies

Acumen’s cash management service is designed to maximise your return, minimise the risk and take away the hassle of managing your own cash deposits. You only deal with one trusted point of contact – your Acumen adviser – at all times. Furthermore, our handy online hub gives you an instant snapshot of how your cash savings are performing.

“At Acumen, we’re always looking for the best ways to add value to our clients,” says Jon. “For many, time quite literally is money. Not only can we take away the arduous task of researching and signing up for several different accounts with different providers, but we have the market insights at our disposal to find the most preferential rates. Our cash management service is secure, streamlined and straightforward.

“With one accessible online dashboard, clients can quickly and easily get an overview of how their accounts are performing. While our dynamic cash management solutions mean that if we detect any interest rate fluctuations, we can swiftly advise on a better alternative and instigate a transfer to ensure that our clients’ money is always working the hardest it possibly can for them.”

Advantages of Acumen’s cash management solutions

Acumen’s cash management solutions offer the following benefits:

• We find the most competitive interest rates
• We only work with the most reputable institutions
• We take away all the hassle and legwork
• We reduce your paperwork with a central hub
• We increase the tax efficiency of your cash savings
• We can offer improved rates for large cash sums

For more information about our cash management service, or about any of our other products or services, please call Acumen today on 0151 520 4353 or email info@acumenfinancial.co.uk.

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