How to digitally share information of your financial assets, investments securely

By: |
June 07, 2021 1:48 PM

Along with making investments in financial assets, it's also necessary to ensure that the benefits of investments are availed when necessary.

financial assets, financial investments, list of financial assets, nominee, appointee, assignee, Covid-19 pandemic, bank account, fixed deposit, life insurance, retirement account, pension accountA list of financial assets would help you in keeping the investments active and get the benefits on maturity or at the time of financial needs for self and/or dependents.

Along with making investments in financial assets, it’s also necessary to ensure that the benefits of investments are availed when necessary. With around Rs 83,000 core of investors’ money lying idle with various financial institutions, it’s become absolutely necessary for you to maintain a list of all your financial investments.

The list would not only help you in keeping the investments active and get the benefits on maturity or at the time of financial needs, but it’s also necessary to share the list with other beneficiaries – like the nominee, appointee, assignee, etc – so that they may get the financial help at the time of crisis in your absence.

With the Covid-19 pandemic enhancing the life risk and affecting a number of people in a family, sharing the otherwise confidential information about your financial assets with trusted persons has become a matter of utmost importance.

However, maintaining and sharing such a list on a piece of paper may not be a secure way of doing so and it may become hard to locate it at the time of need.

So, maintaining the list digitally and sharing the link with the intended person(s) would be a smarter way of doing so.

Under Covid shadow, don’t keep your finances a secret; Here is why

One of the providers of such a service is Kutumba – a digital platform that intends to empower your family with financial-life awareness and financial-life preparedness by helping you to discover, document, risk-proof and share your financial-life information with your family.

You may sign-up with your email address and phone number to open a Kutumba account and add members, who could be your immediate or extended family members as well as professionals whose services you use – such as your chartered accountant, your lawyer, your power of attorney holder, etc.

In your Kutumba account, you may store information about your financial assets – like bank account, fixed deposit, life insurance, retirement account, pension account, etc – and share the information only with those Kutumba members who you are comfortable sharing it with.

So, a digital account helps you store the information of your financial assets in a secure way and by making the information readily available to the intended persons, it empowers your family with financial-life awareness and financial-life preparedness.

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