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Managing Partner – Family Office Services

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CIMA®, CPFA®, AIFA®, QKA®

Director – Institutional Advisory Services

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Jeffrey P. DeHaan, CFP®

Managing Partner – Private Wealth Management

Unlocking the Benefits of the Clearwater Capital Portal’s Digital Vault

James Chapman November 06, 2023

In the ever-evolving landscape of wealth management services, ensuring that our clients have easy access to their financial documents and sensitive information is paramount. That’s where the Clearwater Capital Portal’s secure digital vault comes into play. Integrated into your client portal, this digital vault offers clients a streamlined way to manage and safeguard your important documents. Here’s how clients can utilize it and why they should seriously consider doing so.

Streamlined Access and Convenience

One standout advantage of your digital vault is its seamless integration within your client portal. This means that you can view your investment accounts, and access your crucial documents all within the same system. No more juggling multiple platforms or accounts – everything you need is in one place. When you login to your portal you will see that there is an existing file folder system. You can use this however you like and upload documents and files into where you see fit. We can also customize how your spouse, children, or other family members can have access to these. If you utilize the Clearwater Capital app, the same exact file storage system will be available to access from your phone.

Real-World Applications

A recent client case exemplifies the real-world utility of your digital vault. A client found themselves out of town and urgently needed to access their medical power of attorney document. Thanks to the convenience of our system, they were able to retrieve the necessary document on their smartphone quickly. This kind of accessibility can be invaluable during critical moments, demonstrating how your digital vault goes beyond document storage, offering practical solutions for unforeseen situations.

Security

Security is vital when it comes to managing our clients’ financial information. Our firm’s approach to data protection is robust, utilizing a third-party cloud system (within your client portal) with multi-factor authentication (MFA). This extra layer of security ensures that only authorized users can access the digital vault, providing clients with peace of mind that their confidential data remains safeguarded. If needed, your Clearwater Capital team can remotely wipe, replace, or swap documents on your behalf.

What to Store

Clients may wonder what types of documents they should consider storing in the digital vault. Here’s a list to get them started:

  • Legal documents like wills, trusts, and power of attorney papers.
  • Financial statements, tax records, and insurance policies.
  • Personal identification documents such as passports and driver’s licenses.
  • Home and property documents, including deeds and maintenance records.
  • Medical records, prescriptions, and healthcare directives.

In conclusion, the Clearwater Capital Portal’s digital vault is a game-changer for clients looking to streamline their financial lives while enhancing security and accessibility. By integrating it into the client portal and ensuring robust security measures, your firm has created a valuable tool that empowers clients to take control of their financial well-being, whether they’re at home or traveling. Storing a wide range of essential documents in this secure digital vault offers clients peace of mind, knowing that their financial affairs are well-organized and easily accessible when needed most.

James Chapman

disclosure

THIS COMMENTARY HAS BEEN PREPARED BY CLEARWATER CAPITAL PARTNERS. THE OPINIONS VOICED IN THIS MATERIAL ARE FOR GENERAL INFORMATION ONLY AND ARE NOT INTENDED TO PROVIDE OR BE CONSTRUED AS PROVIDING LEGAL, ACCOUNTING, OR SPECIFIC INVESTMENT ADVICE OR RECOMMENDATIONS FOR ANY INDIVIDUAL. ALL ECONOMIC DATA IS DERIVED FROM PUBLIC SOURCES BELIEVED TO BE RELIABLE. TO DETERMINE WHICH INVESTMENTS MAY BE APPROPRIATE FOR YOU, PLEASE CONSULT WITH US PRIOR TO INVESTING. INVESTING INVOLVES RISK WHICH MAY INCLUDE LOSS OF PRINCIPAL.

This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, insurance products, or to adopt any investment strategy. The opinions expressed are as of the date of writing and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and nonproprietary sources deemed by Clearwater Capital Partners to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. Past performance is no guarantee of future results. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. Investment involves risks. International investing involves additional risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. S&P 500 is a registered trademark of Standard & Poor’s Financial Services, a division of S&P Global (“S&P”)  DOW JONES, DJ, DJIA and DOW JONES INDUSTRIAL AVERAGE are registered trademarks of Dow Jones Trademark Holdings (“Dow Jones”). The two main risks related to fixed-income investing are interest rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to make principal and interest payments.

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