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Source of Wealth/Source of Funds

On some rare occasions, Compliance may ask clients to provide a document that will serve as their Source of Wealth/Source of Funds.

Note: Credit card statements are not a valid SoW/SoF.

Examples of SoW and SoF documents:

  • Savings (must be issued within 90 days)
    • Bank statements showing an accumulation of funds, for example getting paid by employer/pension.
  • Release of pension
    • A copy of a pension statement and a copy bank account statement showing the money being received from the pension company.
  • Sale of shares
    • A copy of the share release schedule and a copy bank account statement showing the money being received from the company.
  • Sale of a property
    • A copy of the completion statement from their solicitor and a copy bank account statement showing the money being received from the solicitor following completion.
  • Inheritance
    • A copy of the letter from the executors stating how much you are receiving as a beneficiary and a copy bank account statement showing the money being received from the solicitor/executor's bank account.
  • Dividends from a company
    • A copy of your dividend certificate, a copy of the company's accounts and a copy of a bank account statement showing the money being received from the company.
  • Compensation award
    • A copy of a letter confirming the compensation settlement from a solicitor and/or court and a copy of a bank account statement showing the money being received from the third-party/court/solicitor.