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Digital vault for life important documents launching for adviser clients

23 May 2019

A new digital platform to help clients of adviser firms to securely organise, store and share their most important life information is currently under beta testing with a view to launch in June.  

The SecureTheFile platform will be offered through professional services – first to financial advisers and then to accountants and solicitors – and offers six defined libraries, broken into numerous subsections, in which clients can securely store their personal documents. They can then be accessed by authorised individuals, such as the client’s financial adviser and keep documents safe in major life events and emergencies such as fire, theft and death.

The libraries and underlying subsections are:

1. About Me
Personal Information, Vital Documents, Travel Information, Emergency Contacts, Digital Worlds, Medical Information

2. Personal Finances
Financial Accounts, Loans, Bill Payments, Financial Assets, Benefits

3. Financial Advice
Wealth Management Reports, Pension Policies, Protection Policies, Inheritance and Estate Planning, ISA and Savings, Trusts

4. Solicitor
Solicitor Information, Will, Living Will, Power of Attorney, Marriage and Divorce, Executors, Mortgage Lender, Title Deeds, Shareholder Certificates, Trusts, Litigation

5. Accountant
Tax Return, Tax Coding, Annual Accounts, P60, P45, CIS Record, UTR Record

6. Property and Vehicles
Vehicles, Property, Appliances and Warranties.

The platform has been created by Josif Grace, founder and CEO of SecureTheFile.

Grace says: “The estate and end-of-life planning world still both primarily rely on paper documents and filing cabinets. SecureTheFile is a dedicated digital solution to help clients effectively prepare, organise and share life information with loved ones and trusted advisers.”

The service will only be available via professional advisers. Grace says this will help build value into the relationship with the client. However, while a product of the adviser firm, it is the clients that have control of the account. They control the settings and so are able choose who has access to the data.

For example, advisers can store a client’s financial information such as a wealth management report and insurance information as well as their Will, while clients are also able to upload other personal information, such as funeral preferences and wishes for pets.

Grace adds that offering this kind of service, where documentation is easily and readily available in order for client affairs to be managed quickly and efficiently, can help with intergenerational planning and securing the business of the next generation of the family.

He says: “We recognise that intergenerational planning is a big issue for advisers as they seek to retain clients at the transfer point. SecureTheFile will enable professional advisers to have deeper and more meaningful relationships with their clients and their families. It will allow advisors to have fully understand their clients wishes and be able to influence and adapt to them.

“We look forward to working with the adviser community to enhance their retention of clients at critical life events.”

Grace is offering advisers their own vault free of charge so they can try out the platform.

The cost of the service for a client is a one-off set up fee of £149.99 and thereafter a monthly fee of £9.95.

Professional Paraplanner