"Realizing that many of its wealthy clients lack the time or patience to deal with their personal finances, Amsterdam-based private bank Insinger de Beaufort launched a new service that takes finances back to the basics: a shoebox.

After sitting down with their private banker to discuss financial planning, Insinger's clients are sent a big shoebox by courier every month. They drop anything admin-related into the box: bills to be paid, bank statements, receipts, tax returns, speeding tickets, insurance documents, etc. At the end of the month, Insinger sends a courier to pick up the box, and then processes its contents. Clients are sent a complete overview of actions and transactions within three business days, after which the bank takes care of the entire follow-up process, including paying bills, filing tax returns and processing business expenses."

Via Springwise August 21st, 2008 / Trackback / Comments