Flourish Launches Integration with RightCapital to Enable Streamlined Access to Clients’ Held-Away Asset Data
Improved Efficiencies for Advisors to Access Clients’ Held-Away Cash, Annuities
New York, May 14, 2024 (GLOBE NEWSWIRE) — Flourish, a platform that provides innovative access to financial products that help registered investment advisors (“RIAs”) improve their clients’ financial outcomes, today announced an integration with RightCapital, a financial planning platform that simplifies the complexity of financial planning for advisors and their clients. This integration allows advisors to incorporate cash holdings and annuities from Flourish’s product suite into RighCapital’s Net Worth tab with just a few clicks. The simple, secure integration gives advisors a more complete view of their clients’ finances, enabling better planning, decision-making, and advice.
This integration benefits the growing number of RIAs that use both RightCapital and Flourish to expand their practices and offers new RIAs more reasons to adopt the platforms. RightCapital has seen its market share more than triple since 2020, and Flourish Cash recently topped $5B AUC, more than tripling AUC in the past two years.
“Flourish and RightCapital have been invaluable partners in helping Mendel Money Management deliver comprehensive advice tailored to each client’s unique situation. With Flourish providing access to innovative cash management and annuity solutions, and RightCapital’s robust financial planning capabilities, we can ensure our clients’ full financial picture is accounted for. This integration streamlines our workflows and elevates our ability to guide clients towards their financial goals with greater precision and personalization,” said Bradley Mendel, CFP, EA, Wealth Advisor at Mendel Money Management.
“Flourish and RightCapital share a growing number of financial advisors, and we’re excited to make this long-awaited integration available to them,” said Shuang Chen, co-founder and CEO of RightCapital. “Through this integration with Flourish, advisors can now easily access up-to-date visibility into clients’ assets including cash holdings that can be easily overlooked and under-reported.”
Over 750 RIAs managing over $1.5 trillion in combined assets trust Flourish to help them bring more assets into their orbit. The Flourish platform allows advisors to feature their firm’s branding, take discretion or offer as client-directed accounts, as well as providing client-friendly marketing materials, robust and customizable compliance resources, white-glove support, and more.
RightCapital’s comprehensive financial planning platform offers advisors expansive capabilities including interactive retirement planning, cash flow- and goals-based planning, tax-efficient distribution strategies, insurance needs evaluation, student loan management, estate planning, and more.
“In today’s landscape, clients want more than just portfolio management from their advisors. By obtaining a comprehensive understanding of their clients’ entire financial landscape, advisors are better equipped to provide superior financial guidance,” said Max Lane, Flourish CEO. “We are delighted to announce our integration with RightCapital, a platform that also earned ‘Software All Star’ status in the 2024 T3 / Inside Information Software Survey alongside Flourish’s products.”
Webinar for Financial Advisors – Thursday, May 23, 2024 at 2 p.m. EDT
Advisors who are interested in learning more about Flourish and RightCapital can register to join the upcoming webinar on Thursday, May 23, 2024 at 2 p.m. EDT. Register here.
About Flourish
Flourish builds technology that empowers financial advisors, improves financial lives and retirement outcomes, and delivers new and innovative investment options to advisors. Today, the Flourish platform supports more than $5 billion in assets under custody and is used by more than 750 wealth management firms representing more than $1.5 trillion in assets under management. Flourish is wholly-owned by Massachusetts Mutual Life Insurance Company (MassMutual). For more information, visit www.flourish.com.
About RightCapital
RightCapital’s mission is to create Right Plans for Real People™. RightCapital is used by thousands of financial advisors to grow their practices and set their clients on the path to financial success. Founded in 2015, RightCapital is the fastest-growing financial planning software with the highest user satisfaction among advisors (Source: The Kitces Report – 2023 AdvisorTech Study). For more information, visit https://www.rightcapital.com.
Forward Looking Statements
This press release may contain forward looking statements that are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied.
This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success.
Flourish is an online platform through which investors can access financial services and products. Flourish’s offerings are provided by different entities and are subject to different terms, investor protections, and risks. Flourish Cash is offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA’s BrokerCheck. Flourish Crypto is offered by Paxos Trust Company, LLC, a New York limited purpose trust company regulated by the New York Department of Financial Services that provides custody and execution services for the Flourish Crypto accounts, and Flourish Digital Assets LLC, registered in New York as a commodity broker-dealer and provides website and other services and support for Flourish Crypto accounts. Paxos is not an affiliate of Flourish. Flourish Annuities refers generally to the annuity platform operated by Flourish Technologies LLC, where applicable, and to Flourish Insurance Agency LLC in its capacity as a licensed insurance producer providing insurance services related to such platform. Flourish Insurance Agency LLC does business in California under the name Flourish Digital Insurance Agency. An annuity is an insurance contract. Annuities shown on the platform are sold through Flourish Insurance Agency LLC, a licensed insurance producer, with offices in Jersey City, New Jersey, and are issued by one or more approved licensed life insurance companies. The Flourish entities mentioned above are affiliates. Flourish Cash, Flourish Crypto, and Flourish Annuities accounts are separate accounts and only assets in Flourish Cash accounts may be eligible for protection by the FDIC or SIPC. Please review the Legal section of our website, and the disclosures provided with each Flourish service or product, for further information. If you were introduced or invited to Flourish by an investment advisor or other third party, please be aware that, unless otherwise disclosed to you, they are not affiliated with any Flourish entity. The role of the investment advisor or other firm that invited you to Flourish may vary between different Flourish services and products, as further described in your terms of service. © 2024 Flourish. All rights reserved.
The cash balance in a Flourish Cash account will be swept from the brokerage account to deposit account(s) at one or more third-party banks that have agreed to accept deposits from customers of Flourish Financial LLC (Program Banks). The accounts at Program Banks will pay a variable rate of interest. Flourish Cash currently has a tiered interest rate structure, as set forth in the rate tier summary. Each annual percentage yield (APY) may change at any time. The Flourish Cash interest rate(s) could be lower than the rate that could be earned by opening a deposit account directly with a Program Bank. The cash balance in a Flourish Cash account that is swept to one or more Program Banks is eligible for FDIC insurance, subject to FDIC rules, including FDIC aggregate insurance coverage limits. FDIC insurance will not be provided until the funds arrive at the Program Bank. Flourish Cash’s current Program Banks can be found here. For additional information regarding FDIC coverage, visit https://fdic.gov/ and https://www.flourish.com/advisors.This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success.
CONTACT: Marissa Arnold for Flourish [email protected] Craig Raskin for RightCapital [email protected]
