Pam Krueger: Hi everybody, I’m Pam Krueger. I’m the founder of Wealthramp, and I’m joined today by Matt Roberts who’s […]
Carefull’s Senior-Specific Financial Monitoring and Identity Theft Protection Provide Wealthramp Network of Fiduciary Advisors A New Caring Solution For Managing Money For Multigenerational Clients
San Francisco, Calif. – June 9, 2022 – Carefull, the first digital platform built to protect and manage the daily finances of aging adults, and Wealthramp today announced a new partnership to equip its financial advisors with additional protection for their older clients and financial caregivers. The 250 independent, fee-only advisors on Wealthramp’s AI advisor matching platform will now have access to Carefull’s safe money monitoring technology and the capability to offer clients this added service. Wealthramp also became the first official partner of Carefull’s Vault offering, which provides Carefull members with the easiest way to quickly and securely store their passwords and important documents.
Carefull uses AI technology to protect against fraud, scams, misuse, and money mistakes by automatically analyzing for unusual banking activity, strange financial behavior, and more across accounts. The Carefull Pro service enables advisors to monitor a client’s needs with bank-level security without accessing funds or sharing data. Pairing human connection with state-of-the-art technology, Carefull can be customized to an individual’s specific financial management needs.
“Early in the development of Carefull’s technology, we saw how it can help protect older Americans and how it organically complements the approach and demands of our network advisors, who care deeply about the needs of a client’s whole family and are often working with multiple generations,” said Pam Krueger, founder and CEO of Wealthramp. “Carefull provides an added layer of protection and peace of mind that advisors on our platform have the best tools in place to efficiently safeguard their older and special needs clients from fraudulent attempts and communicate with loved ones if issues arise.”
Wealthramp is built on the principles of the fiduciary standard, data privacy protection and investor education, providing individuals who get matched on the platform with the confidence to build a lifelong relationship with their advisor. They know they can trust their advisor to work solely in their best interests and to collaborate with them in their financial planning so they and their families can enjoy a stress-free life at every age. Advisors on the Wealthramp network have a 98% retention rate and often are working with clients’ adult children and even grandchildren. Incorporating services like Carefull that help clients worry less about the security of their money is top of mind for this caliber of financial advisor.
“Carefull’s mission is to make all aspects of financial management as you age easier and empower individuals with the technology and trusted resources needed to do it. Wealthramp is a unique and natural partner in that every advisor on the network is rigorously vetted and holds longstanding relationships with several family members,” said Todd Rovak, a Carefull co-founder. “Our platform is designed with these family dynamics in mind and the advisor who respects these boundaries and continually thinks about how to preserve both their clients’ privacy and wealth.”
“There is tremendous use for Carefull in my work with clients, in particular with seniors and their caregivers, families with special needs, and those in the sandwich generation who may be taking care of parents with dementia,” said Jessica Kmetty, a fiduciary advisor on the Wealthramp platform. “Carefull’s alerts give me visibility into potential fraudulent activities impacting my clients, and helps alleviate stress for individuals who are responsible for a loved one’s finances as well as their own.”
The collaboration with Carefull is the first vetted advisor technology offering on the Wealthramp platform. Plans are underway to introduce additional best-in-class solutions to help Wealthramp network advisors grow their practice efficiently, raising the bar in the wealth management and financial services industries.
Wealthramp is an SEC-registered advisor matching platform that connects consumers with rigorously vetted and qualified fee-only financial advisors. It is the only service that protects people by never selling their information or sharing it without their permission, placing consumers in full control of the process. Built on the foundation of consumer education and data privacy protection, Wealthramp screens out conflicts of interest and engages only with established fiduciary advisors who work solely in the best interests of clients. The company includes independent CFPs, CFAs and CPAs across the U.S. specializing in holistic financial planning, income strategies, stock-based compensation, special needs planning, and more.
Carefull is the first digital platform built to protect the daily finances of aging adults, along with the 45 million U.S. adults managing the daily finances of an older loved one, otherwise known as financial caregivers. Carefull’s technology integrates senior-specific financial monitoring, financial management, identity theft protection, password and document management, communication, and how-to content, replacing the ad hoc paper pile, spreadsheets, bill stack and hold music that today greets adults caring for someone else’s money. Founded in 2019, Carefull believes that creating safer, smarter tools for financial caregiving isn’t only about money. It’s about relentlessly simplifying the awkward tangle that happens when money and family come together. For more information, visit www.getcarefull.com.