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Signia and Flagstone team up for cash service

Signia and Flagstone team up for cash service

Signia Wealth has partnered with Flagstone Investment Management to offer its clients a bespoke cash management service.

The white-labelled offering enables clients to select their own portfolio, which can be diversified across different financial institutions and term deposits.
The service, which is accessed online, also provides due diligence and risk ratings on the underlying banks.

Greg Malone, head of wealth management at Signia, said: ‘A number of clients and families  we look after are entrepreneurs that have built a business and exited it, and have significant amounts of cash.

‘It’s sensible to suggest they spread the risk across different institutions and by blending their deposits, they can get significantly better rates. It can be cumbersome dealing with a lot of banks, but with this service they can do it at the click of a button.’

The charges are understood to be around 15-20bps, based on other products Flagstone currently offers. Flagstone was unavailable for comment.

The cash management offering sits alongside Signia Wealth’s existing investment management, hedge funds, private equity, lending and tax structuring services.

Malone added that the company is increasingly focusing on technology and ways to provide online access to its services ‘without replacing human interaction’.

 

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