Gary Zimmerman, Max My Interest - Several Of The Banks On Our Platform Offer Preferential Rates That Are Only Visible On The Max Platform | #271

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 14 December 2020

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode 271, we welcome our guest, Gary Zimmerman, Managing Partner of Six Trees Capital LLC and Founder of MaxMyInterest, a software platform that allocates individuals’ cash among their own bank accounts so that they earn the most interest possible while staying within the limits for FDIC government-deposit insurance. In today’s episode, we’re talking about how to actually earn some interest on your cash. Most banks today provide little to no interest and our guest has created a company that gives you a way to maximize your interest on deposits. Gary explains how trying to solve this problem for himself actually led our guest to start the company in 2013. We talk about how it works and why banks offer the Max platform a preferential rate, with the top rate on the platform right now at 85 basis-points, while most online banks are offering 25-60 basis-points. As we start to wind down, we hear Gary’s thoughts on the potential for negative interest rates, how banks are positioned, and why the product has been picked up by lots of RIA’s and financial advisors. Please enjoy this episode with Max My Interest’s, Gary Zimmerman. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Mepp Faber Show, where the focus is on helping you grow and preserve your wealth.
0:11.0	Join us as we discuss the craft of investing and
0:13.5	uncover new and profitable ideas all to help you grow wealthier and wiser.
0:17.2	Better investing starts here.
0:18.8	Matt Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.3	Did it industry regulations, he will not discuss any of Cambria's funds on this podcast.
0:27.2	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion of
0:31.2	Cambria Investment or its affiliates. For more information opinion of Cambria Investment management or its affiliates.
0:33.4	For more information, visit Cambria Investments.com.
0:35.6	Hey friends, fun show. Our guest today is the founder of Max My Interest, a cash management
0:45.7	solution for investors with significant cash balances who wish to optimize their returns on that
0:51.0	cash. As a special offer for listeners to show, you get 20 bucks off, welcome credit by enrolling at
0:56.7	Maxim my Interest.com.
0:58.0	For slash Invitations, forward slash Mebb Favor.
1:01.0	Check out the link in the show notes. In today's episode we're talking about how to actually
1:04.8	earn some interest on your money. Most banks today provide little to no interest and our
1:09.7	guest has created a company that gives you a way to maximize your interest on deposits.
1:14.4	We discuss how trying to solve this problem for himself, actually led our guests to start the company in 2013.
1:20.3	We talk about how it works and why banks offer the max platform a preferential rate with the top rate on the platform right now at 85 basis points
1:28.3	While most online banks are offering 0 to 25 to 60.
1:33.3	As we start to wind down, we hear his thoughts
1:35.3	on the potential for negative interest rates,
	...

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