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Envestnet | MoneyGuide Rolls Out MaxMyInterest Integration: Tech Roundup

By Jeff Berman

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Envestnet | MoneyGuide added MaxMyInterest integration that the companies said will give advisors more insight into clients’ held-away cash balances and provide an intelligence-driven solution to help them earn higher yield on their cash.

MoneyGuide users can now incorporate MaxMyInterest’s patented cash solution into planning efforts with clients looking to build an emergency fund or just manage their cash better, the firms said in a joint announcement Wednesday.

Advisors can offer their clients a way to obtain preferred rates of up to 0.75% annual percentage yield on FDIC-insured deposits with same-day liquidity. Advisors can then view the checking and savings account balances directly in client plans within MoneyGuide.

“We believe that everyone deserves a quality financial plan and cash management is an essential part of that,” Tony Leal, president of Envestnet | MoneyGuide, said in a statement. “With this integration, we will be able to deliver an innovative way for advisors to automatically gain greater visibility into cash balances while helping their clients earn more.”

MaxMyInterest is used by advisors from more than 1,200 wealth management firms, many of whom are financial planners who use MoneyGuide, “so we’re excited to offer this integration to support even more advisors,” according to Michael Halloran, head of partnerships and business development for MaxMyInterest.

Hearsay Expands Facebook and LinkedIn Support

Hearsay Systems has expanded Facebook and LinkedIn video support for its Hearsay Social digital communications platform, allowing financial service firms using the platform to enable their teams to leverage video more effectively on social media, it said.

“We recognize that financial firms must equip their advisors and agents with tools that allow them to truly personalize engagements to build deeper relationships with their clients and prospects,” according to Alex Falls, vice president of product at Hearsay Systems.

In 2020, 53% of Hearsay’s global customers across all lines of business — property & casualty, life insurance, and wealth and asset management — published more than 247,000 videos on the platform, the company said. The videos were shared by agents and advisors in the U.S., Canada, France and Spain with their customer bases.

Through the broadened video support, agents and advisors can now create an original video or video message for their Facebook or their professional LinkedIn pages and upload them via the Hearsay platform.

“Once uploaded, the video is subject to Hearsay’s compliance and supervision workflows, which help ensure regulatory guidelines are met and risk is effectively mitigated,” it noted.

Transamerica Teams With Notarize

Transamerica has teamed with the remote online notarization specialist Notarize to enhance retirement plan participants’ online experience by adding remote online notarization, a new way for them to notarize documents without leaving the comfort and safety of their homes.

Via the collaboration, Transamerica is giving plan participants the choice to use a secure digital alternative to in-person, traditional notarization or to submit a notarized document instead of a medallion signature guarantee for certain transactions.

Notarize clients receive a link to a custom landing page to create an account and upload forms using any computer or Apple or Android mobile device with video and audio capabilities.

Clients are then connected with a commissioned virtual notary to engage in a multi-factor authentication process, including video capture of their IDs and a dynamic knowledge-based assessment to confirm and validate their identity.

“Overall, the remote online experience mirrors an in-person notarization, but brings the signer to a digital signing table via online video where the additional benefits include additional layers of safety, security and validation via the encrypted online process — and the speed and convenience of being able to notarize documents anytime and anywhere,” the companies explained in a joint announcement.

Once all documents are signed, the completed document is automatically submitted by the Notarize platform to Transamerica for approval for what the companies said is a “nominal” fee. Spanish-speaking notaries are also available, they added.

Jeff Berman

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