RedBlack, a provider of wealth technology and managed services, has introduced several new advanced cash management capabilities to its rebalancing and trading platform, designed to offer financial advisors a more efficient approach to managing client assets.
Financial advisors frequently encounter challenges managing cash across diverse portfolio strategies, from single accounts to complex households. This often results in manual, time-consuming, and error-prone processes for cash management. RedBlack’s new features are aimed at simplifying these operations.
The recent enhancements to the platform include customized default money market funds, which can act as sweep vehicles, allowing advisors to manage cash seamlessly while keeping it in higher-yield instruments. Account-specific sweeps offer further customization, enabling advisors to align cash management with individual client goals.
Additionally, the platform now supports bulk edits across accounts, empowering advisors to review and manage cash actions efficiently and at scale across an entire portfolio. Household-level management capabilities have been introduced to maintain liquidity and support clients’ broader cash requirements. The updates also feature tax-efficient cash raising, designed to minimize taxable gains while freeing up necessary cash.
Jennifer Valdez, Chief Revenue Officer of RedBlack, commented on the significance of these updates. “Managing cash effectively has become crucial for any financial advisor, which is why we have purpose-built enhancements to address their most common pain points,” Valdez stated. “Our comprehensive cash management capabilities deliver greater flexibility and precision in cash handling while providing clear, actionable insights into current cash positions. These updates are empowering advisors with a smarter, more efficient approach to cash management, allowing them to save time and improve client outcomes.”
RedBlack provides wealth technology and managed services, enabling financial advisors to scale operations and improve client outcomes. The company’s investment management solutions are used by financial advice firms of various sizes to enhance value, streamline operations, and drive growth. With over 15 years in the wealth management industry, RedBlack supports more than $825 billion in assets across its platforms.
