This results in a build up of cash that must be set aside to pay taxes. Gary Zimmerman discusses MaxMyInterest, robo-advisors, brokered deposits, cryptocurrencies and more. Or donate it to your favorite charitable organization. Through its acquisition of Nest, Google can know what’s going on in your home. And advisors can now have a conversation with clients about what the cash is for, and how to make the best of it. Investors have suffered. July 9, 2014 • Gary Zimmerman Protect your cash against earning negative interest. You can try out the Max members are currently earning dramatically more than the national savings average.But what does that mean for an individual investor? For financial advisors, cash is often the forgotten asset class.High net worth households are holding about one-quarter of their assets in cash. When you’ve collected all the forms you receive from employers, banks, and funds, sit down and scan them to your computer as PDFs (or take a photo of each on your smartphone) so that you can easily send them to your accountant. Performance is taken for granted. Max keeps an eye out for changes in interest rates, helping your money automatically flow to the banks that offer the best rates, while keeping your balances below the FDIC insurance limit at each bank. For others, cash is an even more strategic asset – a form of dry powder, ready to be deployed when market opportunities present themselves.For all the talk of cash being a zero return asset class, excess cash in a portfolio can also facilitate outsized gains. For the advisor, the benefit is in being able to offer clients a higher yield on cash than the current rate offered at most institutions. Apple has better software and a better-integrated user experience.

I talked with Gary Zimmerman, founder of MaxMyInterest.com, on my show on June 15, 2014. Max automatically optimizes accounts for FDIC coverage, and makes sure members always are earning the maximum interest possible across their accounts. Since the financial crisis, traditional brick-and-mortar banks have continuously cut rates to match the decline in bond yields and manage their balance sheets. Were you careful about tax loss harvesting to match capital gains and losses? Scan them in case your accountant needs them in an audit. In 2015, most cash in the bank earned, essentially, zero: the average bank savings account paid depositors about 10 basis points, or 0.10%. An IPO can still be advantageous if a company expects continued growth, and wants a currency they can use to fund future acquisitions, but with a $18.2 billion valuation, it’s unclear how much higher the public markets might value the stock. UBS provided insights on readying portfolios for some possible election outcomes.Eight new fund giants come on board, a day after Bank of America says Merrill clients can trade via its mobile app. With all the data collected from your iPhone, an expert system may already know precisely which model of car will suit you best, which could lead to dramatic efficiencies in producing just the right product mix for the market at any point in time.How hard could it be for Apple to go from 0 to 60 in a whole new sector? And through its With Uber, Google would gain your credit card number, your most frequented locations, knowledge of not only where you are but where you’re going, and would be able to serve you highly targeted ads along the way. MaxMyInterest is the brainchild of Gary Zimmerman, a banker who was lucky enough to sell his New York City apartment just before the recession began in 2008. But now we’re starting to see them use Max for portfolio cash as well because it delivers yield that is just so much higher than what’s available from money market funds or others sorts of cash equivalents.”MaxMyInterest has “seen dramatic growth in interest from financial advisors, in part because of the Orion integration, which is now fully live, so every firm can use it,” he added.The Orion integration followed MaxMyInterest launching its own integrated central hub account in the fall that he said “enables people to allocate a specific amount of cash to Max, and that’s been a big improvement as well,” enabling the platform to “integrate a lot better with a lot of wealth management firms.”As of June 23, MaxMyInterest was delivering the highest yield on cash in the U.S., at 1.36%, Zimmerman said, citing data from Treasury.gov and data from companies including Vanguard.The outages, slowness and trading difficulties came as Apple and Tesla split shares; the brokerage firms said the issues were resolved later on Monday. These are the same investors; why the discrepancy?For individuals who also feel they should hold cash on the sidelines — either because they’ve adopted a conservative, capital-preservation stance, or because they want to reserve dry powder for market buying opportunities — the difference between 10 basis points and 100 basis points on cash is significant, particularly when compounded over time. Max makes it easy to manage a basket of these accounts, monitoring changes in interest rates and automatically reallocating cash among your accounts to seek the best combination of yield and FDIC insurance protection.

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