Client Cash: Mapping an Unexplored Opportunity

March 21, 2024

Estimated reading time: 2 minutes


We partnered with Wealth Management IQ, a leader in research services for wealth and asset management communities, to survey advisor perceptions around their clients’ held-away cash and attitudes around cash management needs. The survey's key findings include:

  • Clients’ cash holdings are vastly underestimated: Surveyed advisors believe their average client holds 7% of their net worth in cash, while high net worth individuals self-reported actually holding more than 30% of their net worth in cash.
  • Advisors often ignore the cash conversation despite knowing its importance: There is significant gap between awareness and action in the advisory field, with 95% of advisors acknowledging the importance of addressing clients' cash needs as a professional responsibility, but only 5% of advisors consistently inquiring about their clients' cash holdings.  

  • Clients want high yield on their cash: 92% of advisors report that their clients have expressed interest in high-yield accounts.
  • Cash management solutions can help advisors be more competitive: 71% of advisors believe that offering an in-house cash management solution to their clients would make them more competitive with other advisory firms, as well as more competitive with wirehouses (68%) and robo advisors (62%).

Read the full report to learn more.

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