Source of wealth definition
Source of wealth means the origin of the customer’s total wealth, for example inheritance or savings.
Source of wealth means the origin of a customer’s entire body of wealth and includes the total assets of the customer;
Source of wealth means the way (or ways) in which the applicant accumulated the money being used to pay the premium. Please note:
Examples of Source of wealth in a sentence
Registered Name Occupation (if individual or joint account) or Nature of purpose of entity (if entity) Source of wealth (e.g. inheritance, income from employment, income from business activities) Registered Address PO or C/O will not be accepted Contact Name Contact Details Telephone (inc.
Source of wealth refers to where the customer’s entire body of wealth and assets came from- not just what is involved in a transaction or business relationship.
Source of wealth (e.g. inheritance, savings from employment etc).
More Definitions of Source of wealth
Source of wealth means the activities that have generated the total net worth of the client that is, the activities that produced the client’s funds and property (for example inheritance or savings).
Source of wealth means the way (or ways) in which the Applicant/Settlor accumulated the money being used to pay the premium. We need to understand how the Applicant/Settlor has accumulated the monies to be used as the premium. We require documentary evidence of source of wealth when the cumulative premium amount (across all client policies) is equal to or exceeds £1 million or £50,000 a year. We may sometimes ask for documentary evidence of the source of wealth for cases below these amounts.
Source of wealth. (SOW) means the manner in which the applicant’s overall wealth has been accumulated:
Source of wealth means the way (or ways) in which the Applicant accumulated their wealth.
Source of wealth means information that gives Us an understanding about the origins of Your total net worth.
Source of wealth refers to the means by which a customer acquires his wealth (e.g. through a business or an inheritance); and
Source of wealth means the activities that have generated the total net worth of the client such as, for instance, the activities that produced the client’s funds and property. These may, for instance, be derived from an inheritance or savings.