A new digital platform which says it will give will writers and estate planners a way to support clients and reduce future administration challenges has been launched.
SmartOnion is a UK-based subscription platform which stores pension details, insurance policies, bank accounts, investment records and share certificates; as well as the panoply of estate planning documentation, in one encrypted, shareable location.
The software also offers ‘a new way to add value to client conversations’ say founder Keith Fielden by providing co-branded referral partnerships, marketing materials and awareness campaigns for clients to reinforce the importance of well-prepared legacy planning.
Fielden, who has operated at board level for wealth management and hedge funds, explained while the tool is designed for individual use, it has clear benefits for the professionals who support them.
“You may have written a will, appointed attorneys, even planned your funeral – but if no one can find your paperwork when it’s needed, it’s only half the job done. SmartOnion fills that gap by making life admin findable and shareable – at the point of need.”
The digital vault stores essential financial information so that, in the event of illness or bereavement, instead of weeks or months spent trying to trace missing pension pots, insurance documents or asset records, executors and loved ones can access what they need securely, all in one place. Fielden adds this not only reduces delays and stress, but also protects potential beneficiaries.
“The value of lost pension pots in the UK is estimated at nearly £31 billion – and that’s just pensions. Too often, families don’t know what to look for or who to contact. SmartOnion is designed to prevent that.”
