Jason talks to Rafael Loureiro, CEO of Wealth.com. The company besides having the most incredible URL for a fintech firm is an estate planning platform that allows for advisors and clients to collaborative work on estate plans and produce like legal estate documents and make it part of the entire continuing advisors by proposition.
Episode Highlights
- 00:53: Rafael describes Wealth.com as a tech-driven estate planning platform designed for financial advisors. The platform helps advisors set up high-quality estate plans for their clients, offering legal estate documents that are applicable in 51 jurisdictions.
- 03.09: Rafael and his team decided to create Wealth.com as an intelligent platform to help financial advisors maintain up-to-date estate planning. Their goal is to ensure estate planning evolves with changes in assets and beneficiaries, emphasizing the importance of keeping it current.
- 05.56: Rafael notes that the platform's dashboard can integrate with the advisor's preferred CRM, such as Salesforce or Wealthbox.
- 18.33: Rafael underscores the startling statistics related to estate planning, with a majority of Americans not having a plan, and even those who do often have outdated plans. He notes that many people only consider estate planning when faced with a loss or a famous person's passing.
- 22.31: Rafael emphasizes that they wanted a domain name that represented more than just estate planning. They aimed to provide a holistic, digital solution that encompasses various aspects of financial planning and positions the advisor at the centre of the client relationship.
3 Key Points
- Rafael discusses the creation of Wealth.com and the motivation behind it. He begins by explaining his involvement with a global fraud prevention company before venturing into estate planning.
- Jason highlights the importance of improving estate planning, particularly in areas like tax, estate, and insurance, where there are significant opportunities for enhancement.
- Rafael reiterates his desire for more flexibility, asking why estate planning can't be done from the comfort of one's home, given the advancements in technology.
Tweetable Quotes
- “The visualizer tool provides scenarios and simulations, helping clients and advisors understand the implications of different situations, such as one or both spouses passing away.” – Rafael
- “The platform has an API connection with Zillow, so when a client's real estate is sold, they receive a notification. The platform prompts the client and notifies the advisor, placing the advisor at the center of the relationship.” – Rafael
- The only effective incentive for estate planning may be opting for a comprehensive financial planner who includes it in their scope of work and compensation structure.”- Jason
Resources Mentioned:
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