It’s 1 July. The flurry of 30 June has passed, and 52-year-old Diane and her 54-year-old husband Peter are now…
Written by Rachel Polglase Published: June 27 2019 General
MartinCo is a full service chartered accountant and financial advisory practice with a team of 14 professionals across two key office locations in Sydney. Specialising in supporting the financial planning, advice and wealth development for a broad base of retail and small to medium business owners has seen the firm adopt a dynamic approach to cash investing.
We recently spoke to Todd Martin, Director of MartinCo to assess what the challenges for today’s investors are and how he uses Cashwerkz to deliver added value for clients and the firm.
Q: The delivery of advice has been under the microscope recently. How has this impacted your clients?
The goal at MartinCo is to manage the research, recommendations and administration for financial investments for our clients. We need to make sure everyone from our retail mum and dad investors, to our more experienced wholesale investors benefit from the experience and clarity our investment team can provide. Many of these clients have come through our tax and accounting service and we have a trusted advisor relationship with them. Because of this, many see the value and benefits of professional accounting advice and professional financial advice is a logical and natural extension to this. For us nothing has changed – it’s all about the delivery of full client service offering to maximise wealth creation outcomes.
Q: What are the benefits in using Cashwerkz for your clients?
The transparency of the Cashwerkz platform was the most compelling reason to switch from our traditional multi-bank term deposit investing approach. Many of our clients were finding over time their interest rates for cash investments were becoming less competitive, particularly at rollover time. The Cashwerkz platform can help facilitate extra return without increasing the investment risk.
The marketplace concept of Cashwerkz means we can provide more options for our clients and make sure we access the most competitive market rates possible. This can make a significant difference for wholesale clients with larger cash investments.
For the team it also means we can automatically track all of our clients’ term deposits in one place. Online reporting also streamlines the administration of our clients’ cash investments and lets us focus more on service. Clients need to know our recommendations have the best outcomes for them across the board.
Q: What are your plans for using Cashwerkz in the future?
The long play for us is we no longer have to contact individual banks and wait for their response. We can quickly source a rate sheet and provide it to our clients when they need it. It helps streamline the cost of business for the firm and helps us direct our time in client servicing to advisory activities – and not administration. We see the Cashwerkz cash investing marketplace adding value to our services and are looking to extend this further into our client base to generate future opportunities for our firm and our clients.