Vanguard is empowering its advisors and investors in the often complex field of intergeneration wealth and legacy planning.
Following a successful pilot program of the last year with a small selection of eligible advised clients in Vanguard Personal Advisor Wealth Management, the tools from digital estate planning firm Vanilla will be made more widely available to ultra-high-net-worth investors over the next year.
Working directly with advisors, the solution will provide these wealthy clients with a visualized representation of their current and future estate planning objectives including their net worth, powerful asset transfer diagrams, estimated tax calculations, ongoing estate monitoring and the ability to model the impact of further estate planning scenarios.
A Cerulli report recently highlighted the importance placed on estate planning (along with tax planning) by ultra-high-net-worth clients.
“Recognizing that some clients have intricate estate planning needs that will span multiple generations, implementing Vanilla’s capabilities supports our commitment to help clients achieve stronger financial and legacy outcomes,” said Massy Williams, principal and head of wealth management at Vanguard. “Within Personal Advisor Wealth Management, clients are provided a dynamic visualization of their estate plan, identifying opportunities to refine and maximize their ability to achieve their legacy goals.”
Vanguard’s Personal Advisor hybrid advice service was launched in 2015 to give clients the benefit of sophisticated technology along with human advisors.
Vanilla CEO Gene Farrell says that the intergenerational wealth transfer in the years ahead makes this an important time for advisors to provide exceptional estate planning advice.
“Our platform is purpose built by advisors and estate professionals, combining world class design and cutting-edge technology to help firms deliver a holistic, modern estate planning experience to their clients. We are committed to continuously innovating and building the most complete estate planning platform for wealth management leaders.”
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