Yan from Owner.One
Many organizations require clients to submit a Source of Wealth Essay (SoWE). However, most people neglect the opportunity to tell their own story with the necessary nuances and shades. For all documents submitted to a bank—statements, contracts, recommendations—you are merely a courier. Only the SoWE makes you an author. Children will eventually need to understand the origins of their family's wealth. Everyone should maintain an up-to-date version of their parents' SoWE, signed with a wet signature. Send an updated version to banks annually, without waiting for a bank request. This is crucial for the approval of ongoing transactions. Keep records of every SoWE submission. Banks’ Algorithms analyze different versions of your essay, and discrepancies raise questions. The SoWE is the most important document in your profile. A logical and understandable story removes a lot of questions. It is therefore surprising how casually many clients treat this document. Recently, most banks have begun emphasizing the legal responsibility for providing false or misleading information in the SoWE.