Financial Advisors (IFAs) + Divorce Proceedings: The Challenge
As financial advisor, preparing bank statements for divorce proceedings is a common but time-consuming task. Divorce financial disclosure (Form E) requires detailed bank statement analysis. Solicitors and clients need to review months of transactions to identify assets and spending.
How BankScan AI Helps Financial Advisors (IFAs) with Divorce Proceedings
Convert client bank statements to Excel for quick financial analysis, cashflow modelling, and wealth planning presentations. For divorce proceedings specifically, BankScan AI extracts Hidden income, undisclosed accounts, transfers to third parties, luxury spending automatically.
How Financial Advisors (IFAs) Handle Divorce Proceedings
When preparing bank statements for divorce proceedings, financial advisors (ifas) need to IFAs request bank statements during fact-find meetings to assess client income, expenditure patterns, existing commitments, and savings capacity. They. BankScan AI automates the data extraction step.
Key terms you'll encounter: fact-find, suitability report, attitude to risk, capacity for loss.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload 12 months minimum, often 2-3 years for asset tracing and establishing spending patterns during the marriage of statements for divorce proceedings.
AI extracts what you need
Our AI extracts Hidden income, undisclosed accounts, transfers to third part — formatted for financial advisors (ifas) workflows.
Complete your divorce proceedings work
Download Excel files ready for divorce proceedings. Organised by account with running totals, suspicious transactions highlighted, summaries matching Form E sections (income, liabilities, expenditure)
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Financial Advisors (IFAs) — Divorce Proceedings
- Built for Financial Advisors (IFAs) — Saves 30-45 minutes per client fact-find on income and expenditure analysis, with annual reviews completed 20-30 minutes faster per client
- Software compatible — Output works directly with Intelliflo, CashCalc, Excel
- Built for Divorce Proceedings — Convert bank statements to searchable Excel spreadsheets for Form E preparation, asset tracing, and financial disclosure in divorce proceedings.
- Key data extracted — Hidden income, undisclosed accounts, transfers to third parties, luxury spending, dissipation of assets, regular savings contributions, mortgage payments
Compliance: Financial Advisors (IFAs) + Divorce Proceedings
When financial advisors (ifas) prepare bank statements for divorce proceedings, specific compliance requirements apply.
- FCA rules require IFAs to conduct thorough fact-finds and demonstrate suitability of advice. Bank statements form part of the evidence base for suitability reports. Consumer Duty obligations require advisors to demonstrate they understand client financial circumstances. Records must be retained for the FCA's required period.
- Legal basis: Family Procedure Rules 2010 Part 9; duty of full and frank financial disclosure established in Livesey v Jenkins [1985]
Divorce Proceedings — Built for Financial Advisors (IFAs)
Form E must be filed by the court deadline, typically 35 days after the directions order; late disclosure can result in adverse cost orders
Try Free — Financial Advisors (IFAs) + Divorce Proceedings