Fintech firm creates IFA client document platform

It will help advisers organise customers’ important financial and legal information

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Document management tech firm Lyfeguard has launched in the UK to streamline financial management and end-of-life planning to “revolutionise” the IFA market.

Lyfeguard enables users to store, share and organise important financial information, as well as legal documents, birth certificates, and wills, all through one platform. It then allows this information to be passed onto friends, family and trusted advisers, making life and end-of-life management far simpler.

The application also includes important reminders, and displays reports and insights into key metrics such as financial health, via its financial dashboard. It also has up-to-date bank and credit card balance totals through its open banking technology provided by Tink.

The platform was founded by Xceed Group founder Gary Stewart, as well as digital marketing expert and business entrepreneur Fraser Stewart.

Struggle

Lyfeguard sets out to solve the issue of poor personal information storage and management, as research revealed that the average adult spends five years and five months of their life on ‘life admin’.

Gary Stewart, chief executive of Lyfeguard, said: “After the recent death of a close friend, I was asked by his family to sort out his estate. I agreed to help of course, but I must admit to being overwhelmed by the task which was made more difficult because of the grief we were all suffering.

“Not knowing the location of important information was difficult, particularly when it came to financial and legal documentation. This elongated the grieving process making it harder for all involved. I decided then I wouldn’t want to leave my family in a similar position if something happened to me and so, the Lyfeguard vision was born. Now no one should have to struggle with the same problems I did.”

Fraser Stewart, chief operating officer of Lyfeguard, added: “We set out to create a solution that resolved the two key problems of poor personal document management and simple end-of-life and legacy planning. Current competitors typically focus solely on the latter, but Lyfeguard strives to make personal and information accessible and useful in life too, for a holistic life planning experience which isn’t just centred around death.

“Lyfeguard is made possible through several partnerships and integrations with APIs, and there are a number of exciting collaborations already in the pipeline to take the platform to the next level.”

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