Website: www.insinger.com/shoebox
Saw this on a weekly free newsletter online publication and find this a very innovative ideas. You can check out http://www.springwise.com/ for more.
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.
Every quarter, clients are sent a financial report, detailing spending categories, asset growth, etc, and once a year, they meet with their private banker to evaluate new developments and adjust their financial planning as needed. Sensing a gap in the market, Insinger de Beaufort offers its shoebox service to clients at other banks, too. The concept is of course entirely focused on convenience, saving (valuable) clients the time and hassle of dealing with the minutiae of their personal finances. While other banks provide their high-end clients with similar add-on services, the shoebox approach is undeniably elegant in its no-tech simplicity.
3 comments:
Interesting post. I want to run a business soon, so I'll have to keep this in mind. I know it’ll be challenging, but I’m up for it and will appreciate all the help I could get. Instead of starting a business, I've been thinking about buying a business. Any suggestions? Advice? Thanks.
Hi Rachael Yee,
Really depends on what kind of business you are interested to go into. Many experts said that you need to have passion for your business, otherwise it is very difficult to maintain the energy to run the business.
Another factor is how much capital you are able to come up with, which will determine what business and also how you are going to run the business. Some businesses requires alot of capital, or you can choose to run it at a low cost manner.
There is no hard and fast rule really. All boils back to your determination and perservance.
Thanks for the advice. I really appreciate it. Right now I'm trying to weigh my options and my hobbies and passions so I don't end up hating what I do. I think I have a fair amount of capital saved up, but I'm sure I'll have to take out some type of loan. I did find this site called BizTrader.com where I can find a business to buy and a lender. Good site. Anyway, thanks again!
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