John Yackel recently changed jobs and needed to collect his medical records and send them to his doctor when signing up for new life insurance.
With the Web-based Living Balance Sheet, offered by Sparks-based Wealth Advocacy Partners, Yackel has all his personal and financial data in one place, so it?s easy to retrieve the information and make any necessary changes.
“What I?ve found the most helpful is the ability to easily access and share the information with any of the people I?m working with,” Yackel said.
Yackel, too, knows what it takes to develop and manage a comprehensive financial plan.
He?s the managing director of business development for Rockville-based Fortigent, a firm that provides wealth management and consulting services to independent advisers, banks and trust companies. For more than 15 years, Yackel has helped financial advisers and institutions grow their businesses, and he trusts his finances with Wealth Advocacy Partners and uses the Living Balance Sheet.
“The big thing is the Living Balance Sheet gives you a snapshot of all of your assets,” Yackel said. “It helps you make better and well-informed decisions, and it forces you to take a more holistic approach to planning.”
The Living Balance Sheet is a software system that aggregates personal financial data and develops presentations for individuals to see all their financial information. The software went online in 2005 and is a product that?s being used more in financial planning.
Clients who use the Living BalanceSheet can quickly view their investment assets and holdings and their current values, look up quotes for stocks and mutual funds, and store personal documents and videos in an electronic vault. Wealth Advocacy Partners also recently introduced mobile access to the Living Balance Sheet.
“Our clients really like having all this information at their fingertips,” said Leonard Raskin, president and CEO of Wealth Advocacy Partners. “The mobile access gives people instant access to all their financial data.”
