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Envestnet Links Wealth Management Platform With Flourish Cash

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Envestnet, Inc. (ENV - Free Report) announced integration of its Envestnet | Tamarac wealth-management platform with Flourish Cash. This should help registered investment advisers (“RIAs”) easily access and import account data from Flourish Cash within Tamarac and provide enhanced services to their clients.

Cash management solution, Flourish Cash offers a competitive interest rate and a better Federal Deposit Insurance Corp. (FDIC) insurance than a bank account in a single compact online account, which requires no minimum balance and comes with unlimited transfers.

Flourish Cash offers advisors with an invitation-only product, aimed at helping the latter provide more value to existing clients while leveraging Flourish Cash to help win prospects and generate referrals from an in-built referral engine. Further, advisors can advertise their logo across the website and generate guidelines to help clients transfer funds between their portfolios and Flourish Cash accounts, without paying any extra charges.

The latest move should also allow advisors help clients set up Flourish Cash accounts to meet budgeting goals within the Tamarac platform. Clients can monitor these accounts in real time through Tamarac's client portal.  

Andina Anderson, executive managing director at Envestnet | Tamarac, stated, "Our integration with Flourish Cash furthers our mission to empower advisors to provide advice that can improve outcomes in all areas of a client's financial life." He further added, "We continue to enhance the Tamarac Suite so that advisors have a broad spectrum of tools to help clients achieve financial wellness."

The latest move should strengthen Envestnet’s competitive position in the financial-transaction services industry against names like Fiserv Inc. , Equifax Inc. (EFX - Free Report) and FLEETCOR Technologies, Inc. .

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