One planning service that advisors can offer to add value for clients is helping them organize and store all of their financial documents and digital assets. Think about all of the financial and personal documents clients have- everything from insurance policies and estate planning documents to digital assets like your LinkedIn, Facebook, Twitter, photo storage site(s) and other various online account login information.
Your clients should list each of these accounts and documents, where each is located and the associated login information. That way, when clients (or advisors) lose their memory, become incapacitated or die, the information will be organized for those tasked with sorting out and settling their affairs. Financial Advisors are in a perfect position to provide guidance or service to oversee or take on the process of organizing and documenting these assets.
A recent Forbes article on the topic notes that with the proliferation of online information clients accumulate, and particularly for those owning businesses, it becomes increasingly important to keep track of these assets as they often have significant value. The author point out “Such a scenario presents a prime opportunity for the financial advisor to add tremendous value to his or her client’s portfolio by properly identifying, valuing, and planning for the disposition of the client’s digital assets.”
Here are four solutions to help advisors and their clients handle the onerous organizational task of managing and organizing various financial documents, personal information and digital assets.
Estate Assist Safe
207 Powell Street, Suite 200
San Francisco, CA 94102
Learn about Estate Assist Safe and its features.
FAQs from the Estate Assist website can be found here.
Pricing: $99.95 annually. They offer a free trial for 30 days. For an additional $50 per year, you can add identity theft protection to your Safe. They also have the option for financial professionals to “Partner” with them which included which includes cobranded onboarding materials and portal to access the stored records. There is no mention of the pricing for this and other “Partner” features on their website.
20 West 20th Street
New York, NY 10011
Learn about how Everplans works.
FAQs from the Everplans website can be found here.
Pricing: Everplans offers two options, a Free version and a Premium version for $75 per year.
FAQs from the Principled Heart website can be found here.
Pricing: Principled Heart is offered at $45 per year or you can pay monthly for $4.
FAQs from the SafelyFiled website can be found here.
Pricing: SafelyFiled offers a number of plans. Their plan for Professionals with a large staff or many clients is SafelyFiled Pro. The Pro plan includes a monthly base price plus fees for Staff Licenses and Client Invitees. It includes volume discounts with these fees so the pricing is less straight forward. To calculate the cost to your firm, go to the Pro pricing details page.
Each of these digital asset and financial/personal document storage and tracking solutions provides a great benefit for your clients. Most importantly, it offers the ability to organize all of this personal information and offers peace-of-mind for your clients knowing it can be accessed when needed.
Build your business wisely.