Our wealth partners, Primestock Securities Ltd AFSL 239180, recently emailed Wholesale clients* with information on opportunities to actively manage cash balances in this low yield environment(click here to see article). We thought it would be informative, for the broader client base of Crispin & Jeffery, to understand potential options when it comes to managing cash balances.
Returns on term deposits and cash balances in traditional cash management bank accounts are at their lowest levels in history. It is no irony, presently, that cash balances are at historically high levels due to the Covid-19 crisis. It is prudent to consider ways to actively manage your cash and seek enhanced yields.
If you meet the definition of a “wholesale client” or, if you are uncertain and otherwise wish to discuss your options for managing cash balances please contact your Crispin & Jeffery engagement partner OR Marcus Ainger, wealth adviser, may be contacted in our office on 02 9134 6292.
*To be classified as a wholesaleclient, you must have an accountant’s certificate which confirms that youmeet one of two criteria. These are either:
1) You must hold net assets worth more than $2.5 million; or
2) You must have gross income of at least $250,000 (this can include income from a business if you're a small business owner)