Investment vouchers help wealth advisors reach the next generation of investors
SAN DIEGO–(BUSINESS WIRE)–WILLPORTtrust is rolling out a line of blockchain vouchers to provide wealth advisors a new way of reaching upcoming generations of their clients by providing investment assistance to their beneficiaries.
Over the next 15 years, more than $20 trillion will be transferred from benefactor to their beneficiaries, many of whom are millennials who get their investment advice from technology and apps, rather than a wealth advisor.
The WILLPORTtrust app-based platform leverages blockchain technology to bring trust and wealth management services to every consumer. It simplifies a traditionally hard-to-navigate industry with user-friendly technology that connects, educates, and inspires this next generation. It makes the estate planning and wealth transference process accessible and appealing to the masses.
The investment vouchers are personalized with the benefactor’s message, either voice or written, and electronically delivered to the beneficiary. The benefactor directs the wealth advisor, who, through the WILLPORTtrust portal, will create the voucher and send it directly to the beneficiary. This enables benefactors to encourage their beneficiaries to use the wealth advisor for investment assistance for at least an 18-month period, which allows the wealth advisor to develop a relationship with the beneficiary. This also incentivizes existing clients to retain assets at their firm by promoting open communication between the wealth advisor, benefactors, and beneficiaries.
There are two types of vouchers available, an Investment Gift Voucher and an Investment Coaching Voucher. Both are three-way blockchain contracts that are easy to set up and redeem.
The Investment Gift Voucher is set up so that once redeemed, the beneficiary is given ownership of a specific gift amount for investment purposes. They are also introduced to a specific wealth advisor chosen by their benefactor who will work with them to manage their investments.
With the Investment Coaching Voucher, the benefactor, while retaining ownership of the assets, gives the beneficiary the opportunity to work with a specific wealth advisor chosen by the benefactor to manage the investment of the assets. The beneficiary can be given trading authorization. This process assures the benefactor that the beneficiary will gain the desired experience of working with the particular wealth advisor to manage the assets before gaining or inheriting full control of the funds.
The WILLPORTtrust portal is set up specifically for wealth advisors. It is secure, convenient, and easy to use. Wealth advisors can log into the system and easily search for clients, issue vouchers, and check the status of client voucher activity. They can download reports by client, location, or type of voucher. The public should be able to obtain these vouchers through wealth advisors after December 2020.
WILLPORTtrust is not a financial planner, investment advisor, broker-dealer or tax advisor. Neither the provision of the Investment Gift Voucher or the Investment Coaching Voucher are intended to be legal, tax or financial advice by WILLPORTtrust. The vouchers are provided as a convenience for wealth advisors and benefactors to encourage relationships with beneficiaries and are not intended to be used to replace any other decisioning method or tool that you use and should not be used to provide financial services to third parties, such as clients or customers. Before making any final decisions or implementing any financial strategy, investors should consider obtaining additional information and advice from their accountant or other financial advisors who are fully aware of their individual circumstances. The redemption of all vouchers are subject to the engagement of the wealth advisor and their separate advisory fees. For more information, contact [email protected] or www.willporttrust.com.
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