Vanguard announced it is introducing new and enhanced intergenerational wealth and legacy planning capabilities through a partnership with Vanilla, a provider of digital estate planning tools and solutions.
This offer was successfully piloted to a small cohort of eligible advised clients in Vanguard Personal Advisor Wealth Management over the past year and will scale to provide ultra-high-net-worth Vanguard investors with a visualized approach to help manage and achieve their current and future estate planning objectives.
Launched in 2015, the Personal Advisor suite of advice offers is Vanguard’s industry-leading hybrid advice service that combines a sophisticated online experience and underlying technology with unique behavioral coaching and financial planning capabilities of a human advisor. And clients work with advisors to identify investment goals and develop personalized financial plans tailored to help meet those objectives. Estate planning is also a critical element of financial planning, but the complexity can often be daunting for investors. A well-designed estate planning approach can empower individuals to manage their legacy planning in accordance with complex federal and state tax rules.
The Eligible Personal Advisor Wealth Management clients will work directly with their advisor to utilize Vanilla to build integrated visualizations of 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. Vanguard started working with Vanilla in 2022 and plans to roll out access to the new estate planning tools to eligible Personal Advisor Wealth Management clients over the coming year, in addition to evaluating opportunities to expand access to the offer to a broader set of clients.
KEY QUOTES:
“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. 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.”
– Massy Williams, Principal and Head of Wealth Management at Vanguard
“With such a sizeable amount of wealth set to be transferred to younger generations over the next two decades, there has never been a more important time for advisors to deliver differentiated estate planning advice, and we are excited to partner with Vanguard in support of this critical opportunity. 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.”
– Gene Farrell, CEO at Vanilla
