Financial planning solutions provider Benchmark Capital has entered a new partnership with cash management platform Insignis to deliver cash management solutions for advisers.

Benchmark, which is part of the Schroders Group, said the partnership would enable its advisers to support clients with a range of savings solutions to provide enhanced risk management and transparent returns when managing clients’ cash.

Insignis offers access to more than 50 banks and building societies through a single onboarding process.

Clients will receive the same benefits and rates through their adviser due to the no direct-to-consumer proposition.

All advisers’ know your client and anti-money laundering requirements will be handled by Insignis so they can support clients with a range of savings solutions and strengthen relationships.

The platform also supports more complex cases including trusts, pensions, and power of attorneys to reduce administration for advisers, with co-branded illustrations and reduced minimums through Benchmark.

“Our advisers are increasingly using cash management platforms to manage short-term client liquidity and ensure cash has appropriate protection,” said Benchmark CEO, Ed Dymott.

“It has been great to see strong early uptake of the Insignis service, highlighting clear demand to bring cash into the adviser tool kit.

“Insignis delivers excellent technology, and we plan to further integrate the platform for an even more seamless experience.

“This will help advisers demonstrate expertise, strengthen their client relationships, and deliver a complete proposition. We look forward to building on this success with Giles and his team.”

Insignis chair, Giles Hutson, added: “Our mission is to give advisers complete oversight of their clients’ cash holdings, protecting them from unnecessary risks, deliver meaningful yield improvement and help them manage liquidity events.

“Advisers tell us that having this oversight also provides a catalyst for wider conversations especially with the inheritance tax rules changing to include pensions, where we’ve seen a significant pick up in trust accounts.”

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