AIOFP Seeks to Streamline Cash Investing by Approving Cashwerkz

The Association of Independently Owned Financial Planners (AIOFP) announced this week endorsement of Cashwerkz, a fintech platform, to their Approved Product List (APL) thereby allowing AIOFP members to utilise the leading-edge platform to streamline defensive asset investing.

Cashwerkz, an innovative fintech company has developed a trusted, reliable and secure online platform for cash investing, to seamlessly manage and transact within a range of defensive assets offered, including term deposits, bonds and other third party opportunities from a variety of Australian banks and financial institutions.  Combining a streamlined identification and application procedure together with an efficient rollover and switching process at maturity, Cashwerkz provides advisers and their clients’ with an intelligent and transparent cash investment and management solution.

AIOFP Executive Director, Peter Johnson, confirmed approval of the Cashwerkz platform by their Filtered Research Committee (FRC) and commented “the IFA body has been searching for an innovative solution in this investment asset class for some time and we are pleased to recommend Cashwerkz to our 3,000 strong membership group. The platform provides a streamlined digital solution where an adviser can create a client account online within minutes; research, invest and manage their cash investments with ease and thereafter focus on the needs of the client”.

Cashwerkz remains committed to helping advisers deliver defensive assets to their clients in a new and smarter way by providing a customised experience with a customised dashboard in addition to valuable reporting, client management alerts and datafeed functionality.

Importantly in terms of transparency, Cashwerkz does not require access to or control of a ‘hub’ bank account, which means client funds move directly from ADI to ADI, not through any intermediary accounts. Investors utilise their own CMA or transactional bank account for direct debit of funds with the chosen investment provider ensuring control and security for advisers of their client’s funds.

In addition, the KYC process is the most innovative in the market, revolutionising the traditional manual activities still maintained by other groups.  Cashwerkz, as a technology business, continues to innovate and integrate with the banks as it evolves.

Hector Ortiz, Cashwerkz CEO confirms, “The Cashwerkz business operates with an agile approach to innovation and productivity and continues to consult with advisers, businesses and industry bodies on best practice to support the advice process.  Over 10 Licensees are currently utilising the platform since launch in August 2017 and Cashwerkz expects these ongoing relationships to drive business growth and innovation to enhance investing experiences.”

He notes that, “The recent merger with fixed income specialists Trustees Australia (ASX:TAU) has created a combination of experience, insight and specialist knowledge with technology to produce a defensive asset powerhouse for a valuable digital solution to service the $2.2trillion term deposits in Australia.

Mr Ortiz adds, “Partnering with AIOFP is an exciting step for us. It’s a firm nod that we are focusing on the right technological solutions for advisers that ensures the Cashwerkz platform will be even more relevant and beneficial”.

Cashwerkz presented at the AIOFP conference in Hamilton Island last week, introducing the newly endorsed digital platform to AIOFP members, with an overwhelmingly great response.



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