Fidelity® Helps Families Secure Their Most Important Documents In a Virtual Safe Deposit Box

Less Than Half of Fidelity Customers Surveyed1 Know the Location of All of Their Family's Most Important Documents;
New Offering Designed to Inspire Conversations and Prepare for the Unexpected

BOSTON – Knowing exactly where all of your most important documents are located can be critically important in the event of an emergency, and yet according to a recent survey of Fidelity Investments' customers, less than half (41 percent) of respondents know where all of their family's most important documents are stored. Only one in three families have conversations about this issue, and 84 percent of those surveyed usually keep their important documents in paper form that can't be easily found or shared.

To help families address this important issue, Fidelity created FidSafe®, a free, secure on-line tool where consumers can store, access and share digital copies of a family's most important documents, including wills, health care proxies, life insurance policies, tax filings, property titles, passports, social security registrations, marriage and birth certificates. In addition, someone with a FidSafe account can designate one trusted person to receive that account-holder's documents after they pass away. FidSafe is operated by XTRAC Solutions, Fidelity's independent workflow, reporting and document management company.

"Family members need to know where every single one of their most important documents is stored and have easy access to them," said Dan Brownell, president and CEO of XTRAC Solutions. "Whether it's around end-of-life planning, healthcare or simply filing your taxes, people are more likely to trust firms like Fidelity to safeguard their most personal and important documents. We've also found that FidSafe prompts the critical conversations every family needs to have as they prepare for the future."

FidSafe originated as an idea in Fidelity Labs, the firm's internal R&D unit and start-up incubator. A combination of design thinkers, entrepreneurs, researchers and Fidelity customers came together to build a prototype and pilot a virtual safe deposit box for consumers' most important and personal documents, but with greater access and protection than exists today.

"People shouldn't be forced to scramble for information when they need it most," said Andrew Peterson, vice president and product manager for FidSafe. "We built FidSafe to give them peace of mind in knowing that digital copies of their most critical documents can be shared with family members or trusted advisors should the unexpected occur."

Opening a FidSafe account is quick and easy. A mobile app, how-to tips, planning checklists, and informational videos are available online to guide consumers. They can upload documents to their FidSafe account using any home or office scanner, or simply take a picture of it on a mobile device. All documents are kept private and confidential, and only the owner of the account can choose when and how to share with family members or trusted advisors.

This graphic and our short video explain how FidSafe works. FidSafe also allows individuals to:

  • Simply take a picture using the camera software on your mobile device and then upload it to FidSafe
  • Store 5GB in a secure, free online account
  • Access anytime and anywhere with a web browser or the iOS app

About XTRAC Solutions

XTRAC Solutions, an independently operated subsidiary of Fidelity Investments, is a leader in business processing, workflow, and document management. Founded more than 20 years ago at Fidelity, XTRAC (Cross-business Tracking Routing & Control) is the engine for continuous improvement across the firm. XTRAC processes more than 45 million work items annually, and manages a large number of documents, including on FidSafe. Headquartered in Boston, Massachusetts, XTRAC employs more than 175 people in multiple sites around the U.S. and the world. For more information about XTRAC, visit www.xtracsolutions.com.

About Fidelity Investments

Fidelity's goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $5.0 trillion, including managed assets of $2.0 trillion as of January 31, 2016, we focus on meeting the unique needs of a diverse set of customers: helping more than 25 million people invest their own life savings, nearly 20,000 businesses manage employee benefit programs, as well as providing nearly 10,000 advisory firms with investment and technology solutions to invest their own clients' money. Privately held for nearly 70 years, Fidelity employs 45,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.

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