HSBC's Business Notice Account solution optimising liquidity for AJ Bell

AJ Bell is one of the largest investment platforms in the UK and are a FTSE250 company based in Manchester. Supporting over half a million customers, AJ Bell operate in both the advised and direct-to-consumer of the investment platform market. AJ Bell platforms allow investors access to SIPPS, ISAs, and dealing accounts allowing investments in shares, funds, investment trusts, and ETFs.

In the past three years, the relationship between HSBC and AJ Bell has grown significantly, becoming a key strategic relationship for HSBC. HSBC are now considered a core banking partner, particularly through the success of structuring a comprehensive liquidity solution for AJ Bell’s client and corporate cash. HSBC and AJ Bell are working together to explore additional transactional banking opportunities that will allow AJ Bell to meet their digital and innovation objectives.

Diversification and yield optimisation

AJ Bell required a banking partner to not only help them manage liquidity and to optimise diversification, but also to meet AJ Bell’s strategic treasury policy. They required a banking partner with a strong credit history who could be relied upon to hold corporate and customer cash in a highly visible and secure manner.

During proactive consultancy discussions, HSBC have engaged with AJ Bell to understand the future direction of the business and quickly became the only bank to offer AJ Bell the 31-day notice product to meet their strategic treasury goals.

HSBC’s Business Notice Account enables clients to optimise liquidity on their surplus cash. The pricing for the Business Notice Accounts is linked to an index, in preference to a fixed rate, which has been beneficial to AJ Bell in an ever-changing interest rate environment. With visibility on our global electronic banking platform, HSBCnet, clients can fully self-service the notice accounts with ease.

AJ Bell have taken advantage of HSBC’s 31-day and 3-month Business Notice Accounts. The 31-day notice product was strategic to AJ Bell’s treasury policy. HSBC were also able to accommodate and expedite the end-to-end setup process to meet AJ Bell’s timeline.

Client Experience

"The relationship with HSBC is deeply valued from our perspective. HSBC are a highly credited rated bank which our customers can trust to hold cash securely and responsibly. We have a variety of accounts with HSBC which is incredibly beneficial and allows us to react quickly to changing market conditions. The 31-day notice account has been very helpful, enabling us to better manage our liquidity and diversification needs. Bineet, Susanne and the team have supported us brilliantly through each step of this process and have worked to ensure cash is protected in accordance with the CASS client money rules at all times."

Ryan Timmons, Treasury Manager at AJ Bell

"Our HSBC relationship team really understands our business and is constantly striving to introduce products and services which help us optimise opportunities in the markets, whilst providing the assurance of holding cash with one of the world's largest and well respected banks. We are made to feel like a very important customer to HSBC and the on-going strategic dialogue we have with the senior management is invaluable."

Neil Clark, Head of Commercial Finance at AJ Bell

The Success

• 31-day notice period
• Optimised diversification of cash through a range of products.
• Full visibility and control via our global platform, HSBCnet
• Pricing linked to index