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Lifesaver Beach

June Is National Annuity Awareness Month

Technology might not seem like a likely tool a financial advisor can use to build client relationships. It almost goes without saying that older generations prefer human interaction versus digital services when it comes to their finances. And surveys have found that even tech-savvy millennials are more likely to get help with their finances from real-life advisors than from robo-advisors. 

So how can technology help financial advisors strengthen and add value to their relationships with clients—especially older clients—when it lacks the human touch? After all, a computer can’t hold your hand during a market downturn. 

But there is new technology that can enable advisors to build their businesses by giving them the ability to better assist aging clients and clients taking care of aging parents at the stage of their financial lives where they need the most help. That new technology is Carefull.

Partnering to provide financial security solutions

Carefull was built to protect older adults’ daily finances by monitoring their accounts 24/7 for signs of fraud and money mistakes, while still keeping them in control of their finances. It was also built to make it easier for who we call “financial caregivers”—those helping aging parents or loved ones with daily money matters—navigate the awkward tangle that happens when money and family come together. 

Carefull is invested in supporting older adults as they age and become more vulnerable to financial exploitation that could disrupt the ongoing $24 trillion of wealth transfer to the next generation. And we know that NAIFA members are dedicated to providing financial security solutions and helping people through this challenging stage of life, too. That’s why Carefull chose to partner with NAIFA and the LECP Center.

Carefull co-founders Todd Rovak and Max Goldman recognized that the technology needed for the financial caregiving stage of life simply didn’t exist. So they created it. And by partnering with NAIFA, the hope is to get the right tech tool into the hands of advisors so they can better serve and better protect their aging clients. 

Building relationships with the right tech tool

With Carefull’s smart financial account monitoring, financial advisors can easily offer the added protection that families need. Advisors who use Carefull’s secure system to monitor clients’ transactional accounts will be alerted when it spots anything unusual, including fraud, mistakes, misuse of funds and even financial signs of cognitive decline. Then advisors can work with clients to resolve those issues before they become big problems.

In this way, technology becomes a relationship-strengthening bridge between generations. While better protecting and retaining assets of aging adults, advisors can win new family members by using Carefull to connect with and collaborate with clients’ adult children, creating both valuable peace of mind and a valuable new channel for other financial products.  Carefull is a simple technology to offer as part of a client portfolio. It also can lay the groundwork for years of client impact and growth.  

As part of this new partnership, Carefull will offer a NAIFA-only rate on its Carefull Pro service for members, as well as provide members its content, financial caregiving education and expert speakers upon request.

Find out more about Carefull when NAIFA-National President-Elect Bryon Holz joins the for the webinar "Financial Technology That Builds Long-Term Relationships for Long-Term Care" on January 11 at 1 pm eastern. 

Register for the Webinar

In addition to connecting with advisors to provide them with technology to build relationships, Carefull is looking to tap into the expertise of financial advisors for its consumer education resources. NAIFA members who are interested in sharing their knowledge and being sources for Carefull’s articles, guides and expert interview video series should contact Carefull Director of Education and Content Cameron Huddleston at cameron@getcarefull.com.



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