Their Combined Technology and Processes Improve Estate Planning Experiences
BERWYN, Pa., June 7, 2023 /PRNewswire/ -- Trucendent, a technology firm dedicated to improving estate planning for advisors and their clients, and NetLaw, a law tech company powering estate planning services from a national law firm, today announced a strategic relationship in support of the collaboration between financial advisors, clients, attorneys and corporate trust administrators to create and update clients' estate plans.
Anticipating the Great Wealth Transfer of an estimated $84.4 trillion1 in the decades ahead, financial advisors are looking to assist their clients in estate planning now more than ever. However, there are several barriers to clients completing critical planning, including a reliance on law firms using traditional models. Now, Trucendent and NetLaw offer an online process that streamlines the steps from initiating the conversation with a client to setting a meeting with a lawyer to appointing a corporate fiduciary.
"We built NetLaw to make the estate planning process better for advisors and their clients," said Alex Hargrove, Chief Executive Officer of NetLaw. "Our relationship with Trucendent allows us to work together to address the needs of millions of Americans who need to secure their legacies with the guidance of their financial advisors and qualified legal counsel."
Sean Lawlor, Head of Solutions Distribution for Envestnet explained, "As part of Envestnet's suite of wealth solutions exchanges, Trucendent enables trust services, facilitating discussions about how to secure a family's financial future with the assistance of trusted fiduciaries. Trucendent and NetLaw are empowering advisors to deliver the Intelligent Financial Life™."
"Ensuring the smooth transition of wealth to the succeeding generation is a fundamental part of financial planning for financial advisory clients and their loved ones. We've heard from advisors that they want to assist their clients in estate planning using trust accounts tailored to each individual's financial strategy. We are pleased to continue to expand our capabilities through the Trucendent platform, by forming a strategic relationship with NetLaw to provide comprehensive estate planning support to financial services firms, their advisors, and their clients," conveyed Kara Mondoskin, Chief Operating Officer of Trucendent.
Advisors using the Trucendent platform will have the unique ability to offer their clients estate planning knowledge, access to specialized legal counsel, access to advisor-friendly corporate trustees, and a robust estate visualization experience. Financial services firms seeking more information should contact the Trucendent team to schedule a demo.
NetLaw is delivering better estate planning experiences to financial advisors and clients with its intelligent, user-friendly online platform. Collaborating with Hargrove Firm attorneys nationwide, NetLaw offers clients an efficient, effective, and convenient way to protect their legacy. By fostering collaboration between clients, financial advisors, and attorneys, the platform empowers users to better control the planning process. To learn more, visit www.netlaw.com.
Trucendent is in the business of developing, operating and marketing an online platform for financial advisors that provides trust and estate planning tools and services and connectivity and access, through integrations with other platforms and providers, to trust and estate planning legal services, trust funding services, trust administration services, trust account and investment proposal workflows and trust investment models. To learn more, visit www.trucendent.com.
Envestnet is not a law firm and as such, does not provide legal or regulatory advice or opinions to any party or client. You should always consult your relevant regulatory authorities or legal counsel as applicable. Envestnet, Inc. has a financial interest and occupies board of director positions in Trucendent.
- Cerulli Associates (https://www.cerulli.com/press-releases/cerulli-anticipates-84-trillion-in-wealth-transfers-through-2045)