So you’ve heard “Living Profile” in the app and you’re wondering what it actually means? Think of it as a current, organised snapshot of your financial position that evolves as your life changes.
The old way vs. the Rask way
- The old way: You fill out a 40-page paper “Fact Find” once every three years. It’s out of date the moment you leave the office.
- The Rask way: Your Living Profile is connected to your bank feeds, your portfolio, and your goals. It stays current so your advice is always based on where you are now.
What’s inside your Living Profile?
- Cashflow: Real-time data from your connected bank accounts.
- Investments: Your latest share, ETF, and property holdings.
- Forms: Your risk profile, goals, and preferences.
- Documents: Your tax returns, insurance policies, and statements.
Why it matters
A Living Profile allows your adviser to:
- Spot opportunities: If your savings rate increases, we can suggest where to put that extra cash.
- Identify risks: If your insurance coverage is no longer enough for your debts, we’ll know.
- Save time: You never have to “start from scratch” when you want to update your strategy.
Keeping it healthy
To get the most out of Rask, we recommend:
- Checking your Cashflow once a month to ensure transactions are categorised.
- Updating your Goals whenever you have a major life event (new job, new baby, new house).