Bank of America announced earlier this week the launch of Life Plan, a new digital experience through which clients can set and track near- and long-term goals based on their life priorities, and better understand and act on steps toward achieving them.
Available within the Bank of America mobile app and online banking platform, Life Plan enables clients to do the following:
- Select and prioritize their most important goals at every life stage and across multiple areas, including finances, family, health, home, work, leisure, and giving.
- Create and continuously adjust financial goals in real-time within the app, as life happens and priorities change.
- Track progress against their goals, with personalized guidance and recommendations on incremental steps toward achieving them along the way.
- Leverage the company’s network of financial professionals by scheduling in-person or virtual one-on-one appointments for collaborative discussions about their goals and strategies to help achieve them.
While sharing more details about the service, David Tyrie, Bank of America’s Head of Digital, Financial Center Strategy, and Advanced Client Solutions, stated:
“We designed Life Plan to give clients the power to define, prioritize and make progress toward their financial goals. Life Plan delivers a personalized experience for every client, providing information that is timely and relevant, aligned to their unique financial goals, and offering a choice of the next best step.”
Life Plan is now available nationwide following an eight-month pilot with nearly 80,000 clients. Bank of America added that during the pilot, the top five goals set by clients included: budget and start saving (32%); save for retirement (31%); buy a home (30%); save for a large purchase (30%); and improve my credit (28%).
