Wealth and Investment Services: Wells Fargo Extends Availability of LifeSync, a Digital Approach to Money Management

Wells Fargo & Company (NYSE: WFC) announced the expanded availability of LifeSync, a personalized digital approach to aligning customers’ goals with their money, to all consumer customers. Available in the Wells Fargo Mobile app, LifeSync launched to all Wealth & Investment Management (WIM) clients earlier this year.

This expansion comes in conjunction “with a pivotal move for WIM’s Advice and Planning group, which will now be an enterprisewide Center of Excellence, providing more customer segments with tailored solutions.”

Michael Liersch, head of Advice and Planning at Wells Fargo, said:

“Expanding availability of LifeSync to our consumer customers is the first proof point in Wells Fargo’s strategic delivery of digital-first, personalized financial advice and planning offerings. Since it launched earlier this year, LifeSync has delivered on its promise to enable WIM clients to more easily share their goals with their advisor, see how they’re progressing toward them in real-time, and deliver relevant content and context to better understand what’s influencing those goals. We are thrilled to expand the LifeSync experience to millions of consumer customers this fall.”

Through an intuitive digital experience, LifeSync can “provide real-time progress on goals and track key information — including their full Wells Fargo account summary, FICO scores, market indexes, and credit card reward balances. Timely and relevant Wells Fargo content is delivered through its “Newsfeed” feature as goals or life events change and evolve.”

LifeSync will be fully integrated “with a customer’s branch experience, providing the option to create a multichannel experience through both digital and banker touchpoints.”

Customers can choose to either “have a goals conversation with a banker and then track those goals in LifeSync, or articulate their goals in LifeSync first and then follow up with a banker.”

As recently uncovered in Logica Research’s Future of Money study, Americans report needing more help “with financial decisions than ever, with Gen Z having the highest percentage of respondents indicating a desire to obtain financial advice, especially around managing their money during uncertain economic times.”

The consumer customer availability of LifeSync further “supports Wells Fargo’s digital strategy to provide customers with an intuitive banking journey that meets their individual financial needs.”

This latest announcement marks “a continuation of Wells Fargo’s holistic digital transformation, as signified by the rollout of Fargo, its new virtual assistant, including Fargo in Spanish.”

These enhanced digital capabilities “represent the bank’s multiyear plan to become digital-first and reinvent personal finance.”

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