Fintech firm creates IFA client document platform

Document management technology firm Lyfeguard has launched in the UK to streamline end-user financial management and planning to ‘revolutionise’ the IFA market.

Lyfeguard enables users to store, share and organize important financial information, as well as legal documents, birth certificates and wills, all through one platform. It then allows this information to be passed on to friends, family and trusted advisors, making life and end-of-life management much easier.

The application also includes important reminders, and displays reports and insights into important 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 aims to solve the problem of poor storage and management of personal information, 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: “Following the recent death of a close friend, I was asked by his family to sort out his estate. I of course agreed to help, but I must admit I was overwhelmed by the task which was made difficult because of the grief we all suffered.

– It was difficult not knowing how important information was, especially when it came to financial and legal documentation. This prolonged the grieving process and made it more difficult for everyone involved. I decided that I would not leave my family in a similar position if something happened to me, and so the Lyfeguard vision was born. Now no one will have to struggle with the same problems I did.”

Fraser Stewart, CEO of Lyfeguard, added: “We set out to create a solution that solved the two main problems of poor personal document management and ease of end-of-life and senior planning. Current competitors typically focus exclusively on the latter, but Lyfeguard strives to make personal and information accessible and useful in life as well, for a holistic life planning experience that is not just centered around death.

“Lyfeguard is made possible through multiple 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.”