Author: et_chris

We’re only a couple of months into 2024, but wealth.com’s product team has been hard at work to deliver exciting new features. With a focus on providing continued value to our advisor partners and their clients, check out our newest releases below.

We welcome any feedback or questions: [email protected].

Build Your Client’s Ownership Balance Sheet

Advisors are now able to build out their client’s Ownership Balance Sheet, starting with creating assets and further recording ownership and beneficiary designations on their client’s behalf. Understanding how assets are owned is essential for financial and estate planning, and the Ownership Balance Sheet helps advisors bridge the gap with their clients to create a properly structured estate plan and make it easier for loved ones and decision-makers, such as an executor, to administer assets when the time comes.

Salesforce Integration

Wealth.com was built to fit seamlessly into financial advisors’ existing tech stacks, ensuring you keep your operations and client information organized from your preferred access point. Our advisors who use Salesforce now have visibility into their client’s complete estate planning process directly from their CRM, including updates about client activity and quick information about the status of their documents. Read more about our integration with Salesforce here.

Customized Sub-Trusts for Joint Revocable Trusts

We’re excited to announce that we’ve enhanced the ability for clients to better customize their Joint Revocable Trust to include sub-trusts, including a Marital Trust, Trust for Descendants, or a simpler Holdback Trust. As your client drafts their Joint Revocable Trust, their answers will help them to determine whether any of these sub-trusts should be included in their document. Please note that the ability to include a customized Marital Trust and/or Trust for Descendants is available for your client in their Individual Revocable Trust workflow and is coming soon for the Last Will & Testament.

We are proud to work closely with our advisor partners and their clients to provide the tools to create, visualize and manage their estate plans over time. We want to hear from you. Please share your feedback with us!

We are continuously focused on developing new solutions to provide advisors and their clients with a comprehensive platform that maintains the quality and rigor expected in estate planning. That’s why we’re excited to announce that we’ve enhanced the ability for users to better customize their Joint Revocable Trust to include sub-trusts, including a Marital Trust, Trust for Descendants, or a simpler Holdback Trust.

These sub-trusts have several advantages, including the ability for strategic tax planning and ensuring that your clients’ wishes and objectives are met after they’ve passed on. As your client drafts their Joint Revocable Trust, their answers to questions asked by our platform’s intelligence engine will help determine and suggest whether any of these sub-trusts should be included in their estate plans.

Please note that the ability to include a customized Marital Trust and/or Trust for Descendants is available for your client in their Individual Revocable Trust workflow and is coming soon for the Last Will & Testament.

Marital Trusts can be beneficial for:

• Blended families
• High net worth couples who would like to minimize the taxes their estate might owe at their death
• Couples with assets they want kept within the family, like a family business

A Marital Trust is a specific type of sub-trust typically used when estate planning for spouses to maintain some control over how the surviving spouse invests or uses the assets of the first spouse to pass away, and to provide flexibility to trustees to protect specific assets and values from estate tax liability.

You can learn more about Marital Trusts here.

Trusts for Descendants can be beneficial for:

• Those who are concerned about their descendant’s ability to handle their finances
• Those who may pass away with a taxable estate
• Deciding an age at which descendants will receive their inheritance

A Trust for Descendants is a specific type of sub-trust that is created for the benefit of a child or grandchild, and allows a trustee to help the beneficiary manage their inheritance.

You can learn more about Trusts for Descendants here.

If you have any questions or would like further information, please reach out to your Client Success Manager or email [email protected].

We’re focused on providing an exceptional and seamless experience for all of our advisors. That’s why we’re excited to announce our latest integration with Salesforce.

For our partner advisors that rely on Salesforce as their source of records for all client activity, they can now have complete visibility into their client’s estate planning progress directly in their CRM.

Not only will advisors be able to gain insights into their clients’ estate planning progress on wealth.com, they’ll also get automatic activity updates notifying them of client activity or optimizations needed.

Some of the activity and updates that is available directly in Salesforce includes:

• Account Status: Status of the client’s account (e.g. invited, active, declined).
• Estate Plan Status: The client’s overall progress to complete the documents recommended to draft in their Plan.
• Document Status: The individual status of each estate document that is either included in the client’s Checklist as a recommended document to draft, or was accessed and started by the user through the Document Library on the My Plan page.
• Client Last Login Date: The last date a client logged in to their account.
• Emergency Access Contacts: Emergency Access contacts added by a client, including email address and status of the invitation.
• Client Plan Selection: The estate plan a client has chosen.
• Change in Document Status: See if a client has made a change in an individual document (e.g. client began their Joint Revocable Trust).
• Added, deleted or changed ownership of an asset: See if a client has recently added or removed assets, or if they have updated ownership of specific assets.
• Client moves states: Get a notification if a client moves across state lines prompting so you can review if their estate plan documents need updating (via our Zillow integration).
• Client requests shipment of estate plan documents: Get notified if a client requests within their wealth.com account to get a hard copy of their estate plan documents.
• Attorney consult request: You’ll see an activity update that your client has requested a consultation with an attorney in wealth.com’s Attorney Network.
• Client’s child turns 18: You’ll receive a notification if a client’s child turns 18, allowing you to review if their estate plan documents need to be updated.

Setting up the wealth.com integration in your Salesforce instance is simple and can be done in two ways:

1. If you have a Salesforce admin or developer that manages your integrations, they can reach out directly to [email protected] to establish the connection with the wealth.com team.

2. Follow the detailed instructions that you can find by reaching out to your Client Success Manager.

If you have any questions or would like further information, please reach out to your Client Success Manager or email [email protected].

2023 was a transformative year for wealth.com.

We want to thank you for being an integral part to our continued success as our accomplishments happen in partnership with you and your clients.

We’re even more excited about what 2024 has in store, but before we look ahead, we’re thrilled to share some of our key accomplishments from 2023.

Major Product Features

We take a proactive approach to product innovation, continuously expanding our offering and improving the experience for both advisors and members. Here are some highlights of what we launched last year:

Visualize Client wealth.com Estate Plans

Whenever your client creates an Estate Plan through wealth.com, we automatically generate a visualization of their documents to simplify their decisions into real terms and help facilitate conversations around how their assets will be distributed based on different scenarios.

Extractor by Ester™

We built a first-of-its-kind artificial intelligence model that saves advisors hours of reviewing clients’ existing estate plans by extracting key information from estate planning documents in a matter of minutes to be saved in a summary report to review with clients.

Projections Calculator

Strengthen estate planning conversations with your clients by using our proprietary projections calculator to estimate their net worth growth over time and understand how the future value of their estate might be impacted by estate taxes.

Enhanced Guidance for Document Creation

We expanded our embedded intelligence layer to better support members along their estate planning journey, including improved document matching for members who are recommended Couples Trust Plans to draft a Joint Trust or 2 Individual Trusts, as well as tips and checks within the document creation workflows that are triggered based on client’s actions.

Advisor Activity Feed and Wealth Insights

Check on all your clients’ activity and progress through the advisor activity feed. Learn as you go with wealth insights that help you understand how each of your client’s changing circumstances impacts their plan recommendation. We also added the ability for you to add notes to client activity updates.

Advisor/client collaboration features

• Pre-Fill Client Onboarding: Facilitate client onboarding and document drafting process with pre-filled basic information to help your client get started.
• Contact Card Creation: Set up the key people in their lives to help clients have a starting point for document creation.
• Store files in your client’s Vault: Upload files directly to your client’s vault, a central file repository within wealth.com, and accessible to their designated emergency contact in the case of a life-changing event.
• Print & Ship on Behalf of Your Client: Help your client sign their documents. You can also request a shipment of their documents.

Integrations

Our mission is to fit seamlessly into the rest of your business operations, giving you the information you need, where you need it. We enhanced our integrations to allow advisors to access clients’ estate planning information directly from Wealthbox and Redtail.

New Podcast

We introduced our podcast, “The Practical Planner,” hosted by Anne Rhodes, our Chief Legal Officer, and Thomas Kopelman, our Head of Community, who has also been recognized as a Top 100 Advisor by Investopedia. The podcast details everything advisors need for effective estate planning and more.

Tune in on your favorite streaming platform.

Wealth.com on the Road

In 2023, wealth.com participated in over a dozen events across the United States including Future Proof, Schwab IMPACT and MarketCounsel Summit to showcase why we are the leading estate planning platform tailored for advisors.

And look out for us in 2024! We’re wasting no time in getting back on the road and we hope to see as many of our clients, partners, and friends as possible.

Wealth.com in the Media

Maybe you saw us in the news last year? We secured nearly 100 media placements, including features in renowned publications like WealthManagement.com, Fortune, ThinkAdvisor, Wealth Solutions and many more to spread the word about the impact of estate planning, and how to make it an integral part of advisor and client relationships.

As we look forward to the opportunities that 2024 holds, we remain dedicated to providing our advisor partners and your clients with industry-leading tools to create, manage and visualize their estate plans continuously.