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How to Manage Documents and Finances

Manage your finances and documents

The trust department of a financial institution is often responsible for managing a range of important documents. This includes conservatorship documents, powers of attorney documents as well as investment portfolios, bank statements, and bill payment. All of these documents are subject to strict compliance requirements, which means they must be analyzed and tracked in a systematic manner.

Start by gathering all your documents together. Sort them by kind (banking and insurance, for instance.) Then, sort them according to type (banking, insurance etc.) After they have been sorted and labeled, you can mark them, and then put them in three folders and save them for future use or shred them. This method will keep you from browsing through old files and will also allow you avoid paying for products or services that already exist in your possession.

Utilizing a digital management system such as BDS is another great way to keep your financial documents and records in order. It is easier to locate and access your financial records when you keep it in a digital format. Plus, your records are more secure in a digital format than they would be on paper. Contact us to learn how we can assist you in improving your workflows.

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