Carefull, Cetera Financial Group to Help Protect Aging Client Assets, Ease Wealth Transfers for Advisors

Carefull announced a partnership with Cetera Financial Group, which claims to be a leading financial services firm and one of America’s “largest” networks of financial professionals.

Through a collaborative partnership, Cetera financial professionals now “have access to Carefull’s state-of-the-art technology, which is purpose-built for those aged 55+, along with the 45 million Americans who support them.”

Carefull provides “a simple tool for financial professionals to retain assets and deepen relationships with beneficiaries ahead of wealth transfer.”

The two companies joined forces “to support financial professionals in protecting older adults from elder fraud and mistakes, while helping the underserved family ‘financial caregivers’ who support the daily finances of aging loved ones.”

With wealth transfers predicted to total approximately $84 trillion over the next 20 years and 9 out of 10 adult children forgoing relationships with their parents’ financial professionals, Cetera’s partnership with Carefull will “create opportunities for financial professionals to reach younger family members of existing clients before a crisis or consolidation moment.”

Todd Rovak, co-founder of Carefull, said:

“The lack of financial tools to support across generations puts advisors at a disadvantage. Carefull’s partnership with Cetera provides a solution with the first technology-driven resource built to bridge the gap. Advisors today want to help clients in areas like elder fraud prevention and even cognitive decline, so Cetera is moving quickly to provide tools to better protect these assets while attracting the next generation.”

George Karris, ‪SVP, Head of Strategy and Advisor Experience at Cetera, remarked:

“At Cetera, we are constantly identifying the industry’s best tools and resources to empower our advisors to holistically serve the wide spectrum of client needs. Elder fraud and dementia are just a few of the many challenges investors face as they age, and using Carefull, advisors with Cetera are positioned well to help shield clients from the potential dangers. We are pleased to offer Carefull to our advisors to protect aging clients’ assets by activating powerful safeguards such as account-level transaction monitoring.”

Carefull Pro, specifically “designed for empowering financial professionals, will enable Cetera affiliated financial professionals to seamlessly help protect their older clients’ finances and create organic connections to their families through an AI-driven platform to help prevent ongoing threats such as fraud, senior scams, misuse and money mistakes.”

The product includes the following benefits:

  • Deliver huge impact to clients with limited time and involvement necessary from advisor
  • Drive longer client retention and connection to build whole-family relationships
  • Protect families with military-grade security without accessing funds or sharing data
  • Dynamic, compliance-approved financial caregiving content stream to regularly engage clients
  • Communicate with crucial account stakeholders like siblings, adult children and aging parents before an unexpected crisis or consolidation moment
  • Complete onboarding and training with the expert Carefull team

Carefull’s partnership with Cetera comes “on the heels of introducing new product features, Vault and Trusted Contacts, which offer financial confidence specifically designed for the senior market and support cross-generational relationships in the process.”

Carefull has previously partnered “with Nationwide to support financial caregivers and has several additional partnerships slated for launch within the next year.”

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