So how does that work when the party splits up or someone retires or the lineup otherwise turns over between adventures?
IMC that always results in lost loot since it is typically split during session and goes off with the PCs. No PC no loot.
The worst case though is when the party let a Treasurer PC hoard all the loot, then the player drops the campaign. I try to get players to make the treasurer divvy up loot regularly, but many are much too passive & trusting. Some treasurers are fine of course.