A series of technology-focused presentations for new products and services you can visualize integrating into your workflows.
Transcript :
Cody (00:14):
Final countdown because we are estate planning. We are going to talk about death today. Had to have some fun. End of day. Come on. It was that. Or this is the end by the doors. What is going on everyone? How is everyone doing? End of day. It is like one more panel and some drinks. I hope you've maintained good energy throughout the day. Going to try and bring some good energy for you and educate you guys on the topic you may know something about or may nothing at all. And that's okay. My name's Cody, I am the Co-founder and CEO of Trust and Mall. We are an online Estate Planning Platform and really grateful to be here today.
Andreas Mabel (00:44):
Thanks, Cody. Name's Andreas Mabel, Head of Advisor Sales and curious who's actually heard the word wealth transfer or connecting with NextGen throughout today's sessions, right? Pretty, pretty important topic. So that's what we really want to talk about is how can we empower you to help close a gap? And the gap is pretty big. There's roughly about 94% of clients that work with an advisor that have expressed that they want help with wealth transfer and generational transfer advice, but only 24% of those advisors are actually delivering that. And that's paired with the fact that millennials are now the largest population nationwide and millennials are telling us that they want help with gen multi-generational wealth. So Trust and Will is working with over 9,000 advisors to Delta. Really help solve that and empower financial advisors. And I heard this term a couple times, to more proactively drive estate planning conversations. And the data's out there. We are seeing that firms that work with younger clients are growing at a 10 times faster rate than their peers. So how are we solving this? And I am super excited. Cody, give us a little background on why you saw the vision of trust and Will and how we are helping solve.
Cody (02:03):
Yeah, quick show of hands. Who does not have an estate plan in the room? No will, no trust. I am not calling your spouse or partners. It is okay. Raise your hands. You are in safe space. So five and a half years ago, my wife and I got married and we had talked about this for the first time and I was shocked that I didn't know where to start. And the more friends that I talked to and even going to my own parents, this conversation really was a lot of unknown education. Well, we have this, think we have this. I saw some hands kind of halfway go up when I asked that question and I hated that. I was like, this should be something that everybody's confident in, especially as they're going through major life events. And we felt that there was a bigger opportunity here. And when we saw how many people don't have an estate plan, over half the population, we felt there's something really noble to do here.
(02:41)
First was to go build a brand in this space. We are called trustable, want to make estate planning easy, affordable and accessible. And two, we are helping not just everyday people, we are helping people that have an estate plan that never updated it. It is been 30, 40, 50 years since they've gone through that process. We've been in business now for five years. We've helped over half a million families across the country. And to support that growth, we've raised over $50 million in venture capital. We've got an amazing team of 80 people, Andreas included, that are helping go direct to consumer with commercials and marketing, heavily driven around education and also going to market through advisors and world-class institutions as we partner with banks, credit unions, FinTech companies, life insurance companies, even employer benefits. So the business has been growing like crazy and the one thing we never forget is how do we take care of these families every day? And that's why we have a best in class member experience that's allowed us to grow and work with amazing group of advisors, which Andreas is going to talk about right now.
Andreas Mabel (03:31):
Amazing. So what I'll be doing is giving you a quick demo of how we work with advisors and as an advisor, one of the biggest challenges that we continue to hear is one, lack of education. How can I empower and drive more education so my clients understand the importance of estate planning. Two, have an option that's available in all 50 states specifically for clients that may have more simple needs. And three, accountability, which is one of the top five reasons why consumers hire you as an advisor. So the way that we've built this out intentionally is simple. As an advisor, if I am having a conversation with my client and they don't have an estate plan, I can easily send them a link to get started with trust and will. I am able to drive education and what's really nice is I can actually view my client's progress. Internet's a little slow, so bear with us.
(04:27)
I want to go back to the dashboard here, but essentially once I get back in here, you'll be able to actually see that as an advisor I can actually view and track my client's progress. So once they start, once they finalize the process, we are starting to hear great stories about when my client's lives, if they have a kid or move states, whatever the case might be, I can actually view these documents. I can see the last time my clients made an update. So now think from a proactive strategy, if my client forgot to update their estate plan, they had a second kid, I can add that as a value add and I can view if I click here on view documents, which with the internet might take a little bit to download. So just showing you how easy it is for an advisor to actually see that from a compliance perspective, the clients is still driving the full experience. So it's a client that's engaging with us and we'll actually be going into how a client actually creates an estate plan with trust and will. But at the end of the day, it's accountability, it's having another option and it's making sure that your clients have the tools and resources to be able to make a decision, draft documents and execute the documents with trust and will.
Cody (05:40):
So client experience, we assume that when people come to Trust Mill, whether it's through their advisor on their own research, they know nothing about the topic and we have a best in class educational learn center. But when people get started, think of this again like a TurboTax like experience. Their home dashboard is going to give them insights and recommendations if they've gone through and filled out the estate plan. The summary section makes it really easy to jump back in and make updates. Over the last five years, I got married, started a company, moved, moved across the country and had a child. And all of those updates were reflected in ongoing updates to the estate plan. Each section when you go into it is going to make it really easy to make the change. And we are going to deal with funky wifi today, which is okay, this is why we stick to slides.
(06:22)
It is very fun, funky when we are instructed to go live. But point of it is that when you are going through, you have a question mark. You have any time you want to figure out what does something mean, what does a beneficiary, what is a trustee? What're going to explain those terms to you. You want to chat with a real human being. We have human support six days per week and even if you want to talk to an attorney, we have attorney support. You can go ahead and book a call with an attorney. A lot of the advisors that we work with, the clients that they serve really builds confidence and trust and additional peace of mind when they have that attorney support option. And one thing that is nice too is that quick at a glance information, a lot of you that have the paper estate plan, you forget, well what did I put in here?
(06:55)
What decisions did my partner and I put in here around guardians for our children healthcare decisions? Did we want to be buried cremated? All these are quick and easily and accessible. And the most important thing beyond the creation of the estate plan is the execution of the documents. So we have a deeded transfer service to help you put the home in the trust. We have a mobile notary service to get the notary into your house so you don't have it sitting on your desk or in your closet for many years and months. And what we've done is built, again, best in class vault so you can upload supporting documents, deeded title, identity documents. And lastly that support button on the bottom left is fully present. Very people-centric. At Trust Mill, the majority of our team we are customers of our own product. We stand behind what we've built and it's a really great experience.
(07:36)
So with that said, we have a surprise I guess for the audience or sure everything. Let's do it. So I know some of you don't have an estate plan. We really care about legacy at Trust Mill and for those of you that don't have an estate plan, we wanted to give you a free estate plan. So if you shoot a Cody at trustable email off after this or Andreas at Trust will, we'll go ahead and spin up a code for you. Or if you have a loved one you'd like to gift this to, that's our thank you for you sitting here for 10 minutes and letting us talk ear off about estate planning. But at the end of the day, this business opportunity is around wealth transfer. That's been the theme of the day. And it's not just planning, we also offer probate support. That's a new business line for us. We've done almost 10,000 probate cases in this country and we look at it as wealth transfer. If you have a plan, a will, it has to go through probate. If you have no plan, you have to go through probate. A million families per year will end up in probate. So as much as we've modernized the planning process, we are now doing that in probate. And our hope in the future is that we really can build a platform for end-to-end wealth transfer. Yeah. So with that said,
Andreas Mabel (08:30):
And I think with that said too is where advisors really love partnering with trust and will is it's a matter of your clients engaging with us. So we even have attorney support that covers close to 85% of the population. So if your client wants to engage with an attorney, wants to actually get legal advice, we offer that as an additional service. But what advisors really like is you are actually able to stay in the loop of what your client's progress. So you get notifications when they finalize process again to view documents. So really empowering you. I was talking to Samuel earlier today and it's how as advisors, can we bring more services in house to really, I think at the end of the day, a peace of mind. That's always something I think about very often is as a client, why do we hire a financial advisor? And most of the time it's peace of mind. It is peace of mind that we can retire comfortably or that our kids can afford a college that we want. But a lot of times we forget what's most important is passing on our legacy, and we are continuing to see firms that make this a priority and implement this into their practice, the impact that it has. So, super grateful for your time. We appreciate you being here. Reach out to us if you are interested in learning more. Thanks everyone.