As part of our ongoing due diligence and regulatory requirements, we sometimes require additional information about how you have generated your wealth (source of wealth) and connecting that source to the funds you have just sent us (source of funds).

What is a “Source of Wealth”?

Your source of wealth generally refers to the activities which generated or significantly contributed to your overall net worth. This could be the accumulation of your salaried income, financial and other assets such as inheritance, investments, property sales, etc.

In addition to specifying your source of wealth, we may also ask for supporting documentation so we can verify the information you provided us.

Here are some common examples of sources of wealth and the relative documents we might require.

Salary: We may ask for one or more of the following:

• an employment contract or letter from employer confirming your salary
• recent pay slips
• last 6 months bank statements
• last annual tax return

Property sale: We may ask for one or more of the following:

• certified copies of the signed sales contract
• a signed letter from an attorney
• bank statements showing the amount received

Inheritance: We may ask for one or more of the following:

• a signed copy of the will
• a court document
• certificate of inheritance (EU) or grant of probate (in the UK)
• a signed letter from an attorney
• bank statements showing the amount received

Other investments or sources: We may ask for one or more of the following:

• investment certificates
• contract notes or portfolio statements
• confirmation from your investment company, bank, or brokerage
• a signed letter from an attorney or licensed accountant
• bank statements showing the amount received

Please note the above list is not exhaustive and we may require or accept alternative proofs depending on your circumstances.

When asked, please submit entire, legible copies of the original documents. We won’t be able to accept partial, incomplete or ineligible documents.

What is “Source of Funds”?

Your source of funds is specific to the particular funds you are using for a particular purpose, in this case investing with Lightyear.

For example, if you are using money you have received from your salary to invest with us, a payslip would be the “source of wealth” document and a bank statement would be the “source of funds” document.

If you have any questions or issues about any of the above, don’t hesitate to get in touch with our support team below.

This article relates to personal account verification, for business verification see more information in Verifying my business’ source of funds