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Advisers walk fine line when managing client cash
Staying ahead of inflation in a low-yield environment can mean taking on more risk with emergency cash positions. The shortest-term certificates of deposit are yielding less than 65 basis points.
May 17, 2021 2 MINS
While most financial advisers continue to recommend their clients hold enough cash or liquid cash equivalent to cover between three- and six-months’ worth of living expenses in case of an emergency, the crushing reality of historic-low yields is leading to some shifting priorities when balancing safety and yield.
“I get the question about earning yield on cash at least once a week from clients,” said Paul Schatz, president of Heritage Capital. “There are plenty of solutions, but solutions don’t come with the same low level of risk as bank savings accounts.”
Millar also got the Covid-19 vaccine. He was among the many people at Griffin Health’s ‘Shot in the Dark.’ A vaccine clinic, slash party, aimed at adolescents.
“What better way than to have glow-in-the-dark frisbees, ice cream, and everything to take a little bit of the pressure off and have a fun event,” said Griffin Hospital communications specialist, Chris Meagher.
It wasn’t just sweet treats and music providing incentive though, for some the science was enough.
“It’s nice to get rewarded with ice cream, popcorn, or whatever they have but it’s a no-brainer to come,” said Paul Schatz, of Woodbridge.