Our lives seem to get busier and more complicated as time goes on, with more bills, accounts and policies needing to be set up than ever before. Many of these are also now online, with the reduction of monthly statements being sent via the post to save on paper. Utility bills are not always with the same providers, we may have multiple digital subscriptions and it is getting easier to switch bank accounts with newer, less traditional financial institutions promising us better rates and deals.
Therefore, it’s becoming easy to lose track of what accounts we hold, where we hold them, and what exactly they are for, unless we do a personal audit on a regular basis. Plus, whilst not particularly a cheery thought, all these accounts and subscriptions need to be cancelled in the event of death.
To help provide some clarity and structure at NLP Financial Management we’ve put together an “easy to use” document called a Financial Passport. The aim is to enable our clients to store all their important information in one place, capturing essential details they, or their loved ones, may need now or in the future. It will prove to be an indispensable reference resource for managing their wealth, as well as containing personal details, which can be amended and reprinted / saved as any changes to policies and accounts are made.
During initial discussions, our clients have expressed how useful this will be to them, so we are hoping that this will provide an additional benefit of working with us as we assist our clients throughout their financial journey.