Wells Fargo Expands Advice and Planning, LifeSync® Access to All Consumer Customers
October 12 2023 - 8:00AM
Business Wire
Strategic expansion to provide more customers personalized,
digital goal-setting experiences
Wells Fargo & Company announced today 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.
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LifeSync is now available to all consumer
customers. (Photo: Wells Fargo)
“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,” said Michael Liersch, head of Advice and Planning at
Wells Fargo. “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.
“Since redesigning our mobile app, including launching new
features like our Fargo™ 1 virtual assistant, customer satisfaction
and usage are growing exponentially,” said Michelle Moore, head of
Consumer and Wealth & Investment Management Digital at Wells
Fargo. “This expanded availability of LifeSync builds on that
momentum by providing meaningful money guidance to help our
customers feel supported in reaching their financial goals.”
Today’s 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. 2
These enhanced digital capabilities represent the bank’s multiyear
plan to become digital-first and reinvent personal finance.
1
Availability may be affected by your
mobile carrier’s coverage area. Your mobile carrier’s message and
data rates may apply. Fargo is only available on the smartphone
versions of the Wells Fargo Mobile® app.
2
Wells Fargo Online® and the Wells Fargo
Mobile® app may not be available in Spanish to all customers and
some products, services, and communications may only be offered in
English.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial
services company that has approximately $1.9 trillion in assets,
proudly serves one in three U.S. households and more than 10% of
small businesses in the U.S., and is a leading middle market
banking provider in the U.S. We provide a diversified set of
banking, investment and mortgage products and services, as well as
consumer and commercial finance, through our four reportable
operating segments: Consumer Banking and Lending, Commercial
Banking, Corporate and Investment Banking, and Wealth &
Investment Management. Wells Fargo ranked No. 47 on Fortune’s 2023
rankings of America’s largest corporations. In the communities we
serve, the company focuses its social impact on building a
sustainable, inclusive future for all by supporting housing
affordability, small business growth, financial health, and a
low-carbon economy.
News, insights, and perspectives from Wells Fargo are also
available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com |
Twitter: @WellsFargo
Cautionary Statement about Forward-Looking Statements
This news release contains forward-looking statements about our
future financial performance and business. Because forward-looking
statements are based on our current expectations and assumptions
regarding the future, they are subject to inherent risks and
uncertainties. Do not unduly rely on forward-looking statements as
actual results could differ materially from expectations.
Forward-looking statements speak only as of the date made, and we
do not undertake to update them to reflect changes or events that
occur after that date. For information about factors that could
cause actual results to differ materially from our expectations,
refer to our reports filed with the Securities and Exchange
Commission, including the “Forward-Looking Statements” discussion
in Wells Fargo’s most recent Quarterly Report on Form 10-Q as well
as to Wells Fargo’s other reports filed with the Securities and
Exchange Commission, including the discussion under “Risk Factors”
in our Annual Report on Form 10-K for the year ended December 31,
2018, available on its website at www.sec.gov.
News Release Category: WF-IT
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version on businesswire.com: https://www.businesswire.com/news/home/20231012742310/en/
Media Natalie Papaj, 703-586-0048
natalie.papaj@wellsfargo.com
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