Rachel Pettis

Gene Farrell

•

Sep 28, 2023

Vanilla Strengthens Its Leadership Team with Two Exceptional Hires Los Angeles, CA,  – Vanilla, the industry-leading Estate Advisory Platform, is thrilled to announce the latest additions to its leadership team. Nathan Hunt joins Vanilla as Head of Finance and Doug Rybacki is joining as Vanilla’s Chief Product Officer. "We are excited to welcome Nathan and Doug to the Vanilla family. Their impressive backgrounds and strong functional leadership will help accelerate our mission of building the complete estate planning platform.” - Gene Farrell, CEO Nathan Hunt We are excited to introduce Nathan Hunt as our Head of Finance. Nathan brings a...

Simona Ondrejkova

•

Sep 26, 2023

Beyond helping clients reduce capital gains taxes or income taxes, advisors are uniquely positioned to help clients preserve more of their wealth through proper estate tax planning. Imagine that just a few months after the unfortunate death of one of your clients, their surviving spouse or children find out they have to pay a large unexpected estate tax bill. What if this tax bill could’ve been avoided?  Taking advantage of estate tax planning tools like gifting, trusts, and the marital deduction can help clients achieve their unique goals, maximize tax savings, and reduce survivors’ financial stress. Here, you’ll learn how...

Vanilla

•

Sep 26, 2023

Welcome back to Legacy Now. On Oct 19th we are excited to share the latest innovation and enhancements to the Vanilla Estate Advisory Platform. Together with our customers, we are redefining how financial advisors, wealth planners, attorneys and their clients approach one of the most important parts of each clients’ lives: their legacy. In this live, virtual launch event: Vanilla CEO Gene Farrell will share our view on the future of estate planning and advisory. We will discuss the role technology and AI will play in transforming estate planning. Special guests will discuss how they are preparing for the 2026...

Vanilla

•

Sep 26, 2023

Whether they're a new client, or a client with whom you haven't discussed estate planning with in the past, this checklist will take you through some important questions to ask to ensure you help meet their goals. This checklist is broken down by net worth and includes the important documents you'll want to make sure you gather.  

Vanilla

•

Sep 21, 2023

In The State of Estate Planning 2023, only 42% of respondents reported having any kind of plan when it comes to their digital goods. But in the modern world, digital goods play a huge role in clients’ lives, and preparing for how to access and disperse those assets will save family members a lot of grief – and potentially money. Join Jeff Levine of Kitces.com where he will take the audience through key considerations when it comes to estate planning for digital goods and the 2015 Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA). He’ll address: The three categories...

Jim Sinai

•

Sep 15, 2023

Introducing Vanilla’s first-ever State of Estate Planning report Advisors are at a crossroads. Technology is shaking things up, economic policies are evolving, and new generations of clients are knocking on the door. Finding ways to future-proof your business in the face of change and uncertainty can be daunting, so we decided to shine a light on clients' ever-changing needs and help advisors anticipate where the industry might be headed. This summer, we surveyed more than 1,000 Americans to capture the pulse of public opinion on a wide spectrum of estate planning issues.  Today, we are thrilled to share the result...

Vanilla

•

Sep 06, 2023

The 2023 State of Estate Planning, based on a survey of 1049 consumers, dives deeply into the psychology of generational wealth planning.

Vanilla

•

Sep 06, 2023

Join three leaders in finance, technology and law as they uncover insights from a new research report on where finance and estate planning stand today – and where they are going in the future. They’ll explore how advisors can future-proof their business by embracing estate advisory. This webinar will unpack the research data, including client opinions, values, and biases related to a range of estate planning topics. Attendees will hear panelists share their expert perspectives on:  Why estate advice requires intimate, difficult conversations and presents unique opportunities to deliver differentiated advice. How advisors can use estate planning to foster trust...

Simona Ondrejkova

•

Sep 05, 2023

Do your clients struggle to structure their estate plan in a way that aligns with their wishes while providing for their heirs in cases of need? They might want to consider a pot trust. A pot trust is a type of trust that puts clients’ assets into a single pool for a certain group of beneficiaries. It gives the trustee the flexibility to distribute the assets as needed to benefit any given beneficiary. While some advisors highly recommend pot trusts because of their unique benefit of allowing for equitable, but not necessarily equal distribution, others view pot trusts differently. No...

Daniel Brockley

•

Aug 24, 2023

We are a nation obsessed with our pets. In the US alone, we spend $123.6 billion on our furry (and scaly) friends every year. It feels like my household alone must account for a sizable chunk of that for our derpy golden retriever Alfie, between healthcare, food, grooming, toys, the occasional boarding, more toys. You get the idea. When it comes to our dog, we are stupid in love and spare no expense.  So, what happens if we’re no longer around to take care of our pets? Just as we make arrangements for our kids in the event something should...

Daniel Brockley

•

Aug 22, 2023

Life is unpredictable. Even if you’re at the pinnacle of health, running marathons and doing one-handed pushups, you could find yourself injured in a car wreck tomorrow. That’s why an advanced directive is so important.  An advanced directive is a legal document that gives specific instructions regarding your healthcare wishes if you are incapacitated. There are any number of reasons you might not be able to communicate, including being under anesthesia, in a coma, or simply not well enough to speak coherently. In these instances, medical professionals will look to your advanced directive to guide them on how you want...

Simona Ondrejkova

•

Aug 18, 2023

Knowing how to generate leads as a financial advisor is key to expanding your book of business and achieving sustainable growth. That’s why it’s important to have several financial advisor prospecting tools you can lean on anytime to bring potential clients into your pipeline. While lead generation for financial advisors has usually relied on traditional channels such as networking events, cold calls, or referrals, embracing innovative marketing strategies could help advisors tap into new pools of prospects faster. This article is a comprehensive guide on how to generate leads for financial advisors who want to establish themselves as trusted experts,...

Rachel Pettis

•

Aug 17, 2023

Today, we are launching a refreshed Balance Sheet Builder to help advisors bring client financial information into Vanilla more quickly. The new ownership-driven balance sheet makes it easier to enter client accounts and data.  Instead of creating individual assets, entering a client’s information now begins at the account level through one centralized drop-down menu. New dynamic fly-outs for each account or asset type require minimal information to get set up which allows for a faster and more intuitive data entry process. Or if you’re using one of our integration partners, your client’s data will be reflected in the balance sheet...

Jessica Crosby

•

Aug 15, 2023

In the next decade, 37% of financial advisors plan to retire. While this is an exciting milestone that many look forward to, it can also produce a fair amount of anxiety for advisors. Whether you’re a business owner or simply want to ensure your portfolio of business goes to good hands, it’s important to have a solid succession plan as you approach retirement. Your clients will be reassured to know that they’ll remain in good hands even after you’re gone, and it will give your employees and colleagues added confidence as well. As an added benefit, having a roadmap for...

Vanilla

•

Aug 10, 2023

Trusts are an important component of financial and estate planning, but there are many types of trusts – each with unique pros and cons. This guide helps financial advisors and clients sort through the many different types of trusts to better understand what they might want to employ for their own estate strategies.

Rachel Pettis

•

Aug 08, 2023

Today, Vanilla is excited to release a new feature available during the document abstraction process. Advisors who use the Vanilla Document Abstraction Services will now receive in-app messages and e-mail notifications after submitting their client’s estate planning documents, if additional information is required. Additionally, advisors will receive a status update in Vanilla with detailed notes indicating exactly what is needed to finalize the abstraction submission. With more direct feedback between an advisor and Vanilla during the document review, advisors can onboard their clients onto the Vanilla platform faster, enhance communication, and speed up the document abstraction process for them and...

Jennifer Raess

•

Aug 07, 2023

What do you think of when you hear the term “estate planning?” If you’re like two-thirds of Americans over the age of 18, you may assume it’s something you can do another time. In fact, the majority of U.S. adults don’t have a will and have not done anything to plan for their estate.  However, you don’t have to own a mansion or business to make estate planning work in your favor. For those with any amount of net worth, estate planning alleviates the family strife of having to make important life and financial choices on your behalf. It also...

Jim Sinai

•

Aug 02, 2023

What changes in estate planning when rates go up? Over the past two years, interest rates have moved from near zero to 5.25%. Most clients are probably worried about how rising rates will affect their investment and retirement accounts. But advisors working with high net worth clients should also consider how a 500+ basis point shift in rates affects advanced estate planning strategies. Some strategies become more attractive as interest rates rise, while others become less attractive. Advanced estate planning strategies  There are a number of advanced estate planning strategies that can be used to reduce a client’s taxable estate...

Daniel Brockley

•

Aug 01, 2023

Vanilla recently hosted Jeff Levine, the lead financial planning nerd for Kitces.com, home of the popular Nerd’s Eye View blog, for a webinar covering key considerations when planning for non-taxable estates. While it’s impossible to pack all the great info Jeff covered in a short blog post (including a rather spectacular metaphor involving the Red Hot Chili Peppers), we’ll give you a few highlights. What are the boundaries of advice financial advisors should give in estate planning? Financial advisors often grapple with the question of where the line lies between estate planning discussions and offering unqualified legal advice. Jeff weighed...

Rachel Pettis

•

Jul 27, 2023

Build a more comprehensive balance sheet with new partner integration features Today, we are excited to announce several upgrades to our integrations with Black Diamond, Orion, and Addepar that enable advisors to import client financial data faster onto the Vanilla Estate Advisory Platform. With these new enhancements, an advisor can bring in more data from portfolio management systems to their client’s balance sheet for a more accurate representation of their estate. Advisors can select any number of clients in an estate to sync to a single Vanilla client profile when building out the balance sheet in the WealthCenter. Multiple clients'...

Daniel Brockley

•

Jul 20, 2023

For Mariner Wealth Advisors paraplanner Gillian Cassidy and team, estate planning is always part of the conversation with a new client. In their onboarding process, the Mariner Wealth Advisors team inquires about existing estate plans and any life changes that may have happened since their estate documents were drawn up. They upload existing docs into Vanilla and walk through where it stands as well as potential opportunities to improve the strategy with the client.  So, when a new couple came to Gillian and team, they naturally asked about their current estate plan. What they found surprised and saddened them.  Gillian...

Vanilla

•

Jul 18, 2023

Vanilla’s product experts are back with another installment of the What’s New in Vanilla webinar series. Learn about the latest feature releases and enhancements in the Vanilla Estate Advisory platform. Watch on demand to: See how advisors can expedite client onboarding and minimize financial data entry with new upgrades to the Balance Sheet Builder. Learn how our new integrations features help save time importing financial information for multiple clients and organize data. Hear about upcoming upgrades to the document abstraction process for Wealth and Estate Strategists users in Estate Builder and customizable options in the Vanilla PDF report.

Vanilla

•

Jul 14, 2023

Win new clients by downloading this brandable PowerPoint presentation for client meetings. It can help them understand why estate planning matters and how you, as their trusted advisor, can make the process as simple as possible by using Vanilla.

Daniel Brockley

•

Jul 13, 2023

We want the best for our kids–for them to be happy, healthy, and love one another. And after a lifetime of working hard and weathering the ups and downs of the market, it can be heartening to know that the toils of your labor might help set up your children for success along their own paths. But money often serves as a magnifying glass, enhancing opportunities when things go well or fraying family relationships when jealousy or greed creep in. And as you consider how to leave your estate to your children, you may have a nagging feeling you can’t...

Rachel Pettis

•

Jul 05, 2023

Today, we are excited to announce the latest feature to go live on the Vanilla Estate Advisory Platform, Class Distributions designations for advisors and wealth and estate planning strategists. Class Distributions designations What this means for Advisors Our newest feature, Class Distributions, allows advisors to visualize how their client’s assets flow to future generations when a beneficiary predeceases the client.  The addition of this new fact pattern allows the advisor and client to have a more holistic view of the entire estate.  Within Vanilla, advisors can align their clients’ Family Tree with the Balance Sheet by selecting per stirpes (deceased...

Simona Ondrejkova

•

Jun 29, 2023

While it’s inevitable, it’s a call every advisor dreads: your client’s spouse or family member calling to notify you that your client has passed away. During these challenging moments, advisors must be ready to navigate both the emotional and financial implications of a client’s death. But how can advisors best prepare so they can be a source of comfort for clients’ survivors while ensuring all administrative and financial tasks are taken care of as needed? To answer this, we’ve compiled a guide to help you support the surviving spouse or beneficiaries while fulfilling your duties as an advisor. Here, you’ll...

Vanilla

•

Jun 26, 2023

How much life insurance does your client need? This guide breaks it down.

Daniel Brockley

•

Jun 20, 2023

For the past few years, most US tax residents haven’t needed to worry too much about estate tax. In 2017, the estate tax exemption was raised to a historical high of $12.92 million ($25.84 million per married couple), which put it out of sight for most estates. But the same law that raised the exemption, The Tax Cuts and Jobs Act (TCJA), is set to expire in 2026, bringing the estate tax exemption back down to an estimated $6-8 million per person or $12-16 million per couple (adjusting for inflation) – suddenly making the estate tax an important consideration for...

Rachel Pettis

•

Jun 09, 2023

At Vanilla, we are continually iterating to expand our product features and support more complex estate planning scenarios.  First-to-Pass analysis We are excited to announce our newest feature, First-to-Pass. First-to-Pass allows advisors to have deeper conversations with their clients with the Vanilla Estate Advisory Platform. Now, advisors can dynamically switch between death pattern sequences, allowing advisors to provide a holistic view of the client’s estate plan. The advisor can also decide which death sequence they want to add to the PDF report before sending it to their client.  And if the advisor chooses, they can send out two reports with...

Vanilla

•

Jun 07, 2023

This latest installment of the What’s New with Vanilla webinar series covers several new features and enhancements recently launched in the Vanilla Estate Advisory Platform: First-to-Pass analysis: See how the First-to-Pass analysis helps advisors and wealth and estate strategists visualize and gain a more holistic view of the client’s estate. Class Distributions: Learn how the Class Distributions feature will allow advisors and wealth and estate strategists to designate how their client’s assets flow to future generations when a beneficiary predeceases the client. Hear about the latest upgrades to the Vanilla PDF report including new entity tables, a display name editor,...

Vanilla

•

May 31, 2023

If your client has an estate that has not been previously taxable due to the historically high exemption – but may find themselves with a taxable estate when that exemption sunsets at the end of 2025 – this guide is a helpful resource.

Rachel Pettis

•

May 25, 2023

Creating a complete estate profile for a client requires blending family, estate plan, and financial information together in one place. Today, we’re happy to announce a new partnership and integration between Addepar and Vanilla to simplify bringing financial data into the Client Profile. Addepar is one of the leading portfolio management systems for wealth advisors, and by bringing the account data from Addepar into the Vanilla Estate Advisory Platform, we will help advisors create a more comprehensive picture of their client’s estate plans. During the onboarding process, advisors can save time and avoid unnecessary manual data entry by connecting their...

Vanilla

•

May 24, 2023

For the past few years, most US tax residents haven’t needed to worry too much about estate tax. But that’s all about to change. At the end of 2025, the historically high estate exemption of $12.92M ($25.84 million per married couple) will sunset back down to an estimated $6-8 million per person or $12-16 million per couple (adjusting for inflation) – suddenly making the estate tax an important consideration for many more households. And the time to act is now. In this webinar, you’ll learn: How the estate tax exemption sunset will impact your clients Key strategies including SLATS, gifting,...

Rachel Pettis

•

May 18, 2023

With the launch of taxable and non-taxable sample profiles, advisors can now review an example of a completed client account in Vanilla. Their clients can see how the complete picture of their estate and financial plan would be represented on the platform before onboarding their own family, financial, and estate information.  During client and prospect conversations, advisors can share the completed sample profile or download the taxable or non-taxable estate PDF report. The Taylor Family is an example of a high-net worth family living in Florida with a taxable estate of $117,050,000. Their estate plan includes revocable trusts, an irrevocable...

Gene Farrell

•

May 17, 2023

  [Watch Legacy Now on demand, to learn more about Vanilla’s vision for estate advisory.] I believe that technology – when used thoughtfully – can be truly transformative. And this week at our Legacy Now event, with the help of Vanilla co-founder Steve Lockshin, I had the opportunity to share how Vanilla plans to transform not just estate planning, but financial advising as a whole, with the new Vanilla Estate Advisory Software.  The technology itself is only a part of the picture. It’s a tool. It’s the enabler that, when paired with exceptional advisors, will allow for a new kind...

Vanilla

•

May 16, 2023

At our recent Legacy Now event, Hightower CEO Bob Oros and Vanilla cofounder Steve Lockshin sat down with Vanilla CEO Gene Farrell to discuss the changing roles of advisors in estate planning. Learn more about: Why advisors are leaning into Estate Advisory How to use Estate Advisory to connect with clients in a whole new way How technology is helping advisors and wealth planners serve their clients needs around estate planning You can watch the full event here.

Vanilla

•

May 16, 2023

Wealth advisors can now help clients with document creation and on-going estate advice At Vanilla, we believe it’s every wealth advisor's job to ensure that their clients have an estate plan that matches their values and goals.  But more often than not, clients have out-of-date estate planning documents or no documents at all. In fact, according to a 2023 Wills and Estate Planning Study, while 64% of Americans think having a will is important, only 34% of Americans have an estate plan.  When asked why they don’t have those basic documents in place, complexity and time required to hire an...

Vanilla

•

May 11, 2023

Life is unpredictable. And as a financial advisor, one of the essential parts of your job is to help prepare clients for that unpredictability – whether that comes in the form of balancing a portfolio so that it’s not over reliant on a single company or sector or ensuring they have the right documents in place in case of an accident or health scare. One of these key documents is a power of attorney.  A power of attorney (POA) is a legal document that authorizes an individual, known as the agent or attorney-in-fact, to act on behalf of another person,...

Vanilla

•

May 08, 2023

Hear from the teams at Addepar and Vanilla where they’ll discuss how their partnership will bring efficiency to the estate planning process. See how the integration of Addepar into Vanilla can create a comprehensive picture of your clients’ family and financial information in their estate profile. You’ll learn how to: Ensure your clients’ estate plans and balance sheets are up-to-date Save time during the onboarding process Integrate your Addepar accounts into Vanilla

Vanilla

•

May 03, 2023

  Many clients (and some financial advisors as well) tend to reduce estate planning to two simple categories: taxable estates and non-taxable estates. While it’s true that there are important differences in these asset levels, estate planning is not binary. It takes a nuanced approach, one that requires understanding a client’s situation and goals deeply.  However, even with the understanding that a good advisor will always tailor their approach to each individual client’s needs, it can be helpful to think of client needs according to a few different distinct buckets of asset classes – beyond just taxable and non-taxable. We’ve...

Vanilla

•

Apr 25, 2023

Today, advisors use Vanilla to deepen client relationships, increase share of wallet and win new clients. Learn the latest innovations and product announcements on the Vanilla Estate Advisory Platform as of April 25, 2023. Our product experts will provide a deep dive into: How advisors can show their clients simple projections of their estate to help make informed planning decisions about future scenarios The new redesigned PDF estate report which enables advisors to show up with their clients in a whole new way

Vanilla

•

Apr 25, 2023

  A living trust (also called a revocable trust) is a legal document created by a person during their lifetime that directs how their assets are managed during their life, and how they are to be distributed after their death. It can also help bypass or minimize the sometimes expensive and time consuming probate process required by a traditional will.  A living trust is typically used in conjunction with a short will that directs all assets held in the individual’s name to “pour over” to the revocable trust on death (referred to as a “pour-over will”).  This living trust estate...

Daniel Brockley

•

Apr 19, 2023

In a recent report by Spectrem Group, a full 93% of respondents said they want estate planning advice from their advisors, but only 22% of clients are actually receiving that advice. Vanilla aims to change that. Clients crave help from their advisors on estate planning because they recognize that their advisors are in the perfect place to provide real insights. Although clients need attorneys to draft legal documents, those attorneys don’t have the same holistic view of clients’ financial pictures–their assets, their hopes, their dreams–or their family feuds–as their financial advisors have. Not only do financial advisors have more perspective...

Vanilla

•

Apr 18, 2023

  SALT LAKE CITY, UT - APRIL 18, 2023  Vanilla, a leading provider of estate planning solutions, today announced the launch of its new Estate Advisory Platform, the first fully integrated model of an estate, bringing together family, financial, and estate planning data into one place.  The Vanilla Estate Advisory Platform The Vanilla Estate Advisory Platform offers dynamic visualizations of the estate, beneficiary summary and projections, estate tax projections, a dynamic balance sheet integrated with the leading personal finance management tools, and an on-demand report builder. With these features, financial advisors can deliver differentiated advice, expand client relationships, win new...

Vanilla

•

Apr 17, 2023

With your help, we are about to completely reshape how estate planning is done. On May 16th we unveiled Vanilla’s new Estate Advisory Platform, which reimagines how financial advisors, attorneys and their clients approach one of the most important parts of their lives: their legacy.  In this live, virtual launch event: Vanilla CEO Gene Farrell will outline a new vision for estate planning and the role technology will play Hightower Chairman and CEO Bob Oros will speak with Vanilla Co-Founder Steve Lockshin on the changing role of advisors in estate planning Product experts will showcase the new Vanilla platform and...

Daniel Brockley

•

Apr 14, 2023

Tax planning for clients with taxable estates has always been complex. The best way to explain strategies is with diagrams, not documents. That’s why we’ve put together this brandable PowerPoint presentation for client meetings with 10 diagrams to explain some of the advanced strategies and why anyone with $10M in assets should care about estate tax.

Amjad Hussain

•

Apr 13, 2023

We’ve been hearing a lot about AI recently, and for good reason. The innovation happening with Large Language Models (LLMs) and Generative AI are remarkable, have sparked our imagination, and beg the question: What does the future hold? Of course I can’t predict the future, but I do have some thoughts about what it will mean for our industry. When it comes to estate planning, machine learning has the potential to reshape things in some important ways. This evolution may be more subtle in the present and near future – with AI playing a role in the background – but...

Jennifer Brooks

•

Apr 11, 2023

Many clients today don’t have taxable estates.  But they might once the current exemption levels automatically expire on January 1, 2026,  reverting back to ~$6.8 million per person (adjusted for inflation).  Therefore, it becomes increasingly important for advisors to explain to their clients how their estates will look in the future so that they can make the right planning decisions. With the release of Projections, advisors can now demonstrate how estates will behave at various levels of wealth and show their clients simple projections of their estate at a future date.  Projected values flow through the Estate Tax Detail, Waterfall,...

Vanilla

•

Apr 07, 2023

When it comes to estate planning, there’s no substitute for having the right core legal documents drafted, and ensuring they align with your clients’ wishes. But no matter how carefully estate planning documents are drafted, it’s impossible to anticipate every eventuality – and, the truth is, life often moves faster than clients do when it comes to updating their documents. One great way to bolster an estate plan against the unexpected, and to help trustees make decisions in accord with client expectations, is through Letters of Wishes. What is a letter of wishes? A letter of wishes is simply a...

Vanilla

•

Apr 06, 2023

Making lifetime gifts is one of the most common, tried-and-true strategies to reduce estate tax liability. We’ll walk you through the major types of charitable and non-charitable gifts that you might want to consider, as this year draws to an end.

Vanilla

•

Apr 04, 2023

With Vanilla, advisors can create a new type of deliverable that both clients and prospects have never seen before. Not only does Vanilla help advisors increase the depth of their service offerings, but it also helps an advisor’s client actually understand the full picture of their wealth and legacy. Download a sample report below.

Vanilla

•

Apr 04, 2023

With Vanilla, advisors can create a new type of deliverable that both clients and prospects have never seen before. Not only does Vanilla help advisors increase the depth of their service offerings, but it also helps an advisor’s client actually understand the full picture of their wealth and legacy. Download a sample report below.

Jennifer Brooks

•

Apr 03, 2023

One of the reasons advisors love Vanilla is the on-demand PDF estate report, which enables them to show up with their clients in a whole new way.  Now, our custom branded reports have received a major refresh to coincide with the launch of our new brand. Based on feedback from our existing customers, we have made the client PDF deliverables easier to digest and share with updates to the visualizations, diagrams, notes, and balance sheet.  The balance sheet now contains different sections for all assets and accounts that are inside and outside the estate. And the detailed estate notes now...

Jim Sinai

•

Apr 03, 2023

  Today, we’re excited to introduce a new look and feel to Vanilla. Vanilla was started with the point of view that thoughtful design can help make the daunting process of estate planning more accessible. Our straightforward design approach reinforces a core concept of our brand - we are making estate planning simple. After rapidly scaling the company over the last few years, we realized it was time to take a step back, redefine our voice, and reintroduce the brand to the world. A modern new look for Vanilla Vanilla’s goal is to make estate planning easy and to standardize...

Daniel Brockley

•

Mar 15, 2023

  Creating a truly remarkable product is rarely one person’s doing. It takes a team of smart, talented, dedicated folks to make it happen – a diversity of experience and perspectives. At Vanilla, we have a crack team of product designers and engineers who have brought our platform to life and continue to evolve it and make it better. But in addition to dialing in our tech, we need to always keep tethered to the realities of the finance industry – to the needs of advisors and attorneys – and their clients. That means that we all spend a lot...

Vanilla

•

Mar 08, 2023

They won’t make your clients feel wicked. Still, the seven deadly sins of estate planning may leave your clients vulnerable to several unintended consequences such as probate, loss of assets in a divorce, and avoidable estate tax liability. Financial advisors can help their clients avoid the seven most common estate planning mistakes listed below. Estate planning mistake #1: Not updating estate planning documents regularly Some clients may think that creating an estate plan is a one-and-done proposition, but you should review and update your client’s estate plan with them when they experience any of the following: Major life events: Your...

Daniel Brockley

•

Mar 02, 2023

  Part I in a series of 3 on The Vanilla Estate Planning Playbook. Talk to any financial advisor out there, and you’ll hear a common refrain: Sure, we do estate planning. The thing is, what advisors mean when they say they do estate planning varies wildly. For many, doing estate planning simply means asking clients if they have basic documents in place, such as a Will, trust(s), healthcare directive and power of attorney. If the client has docs, the financial advisor moves on to other matters like investments. If they don’t, they refer the client to an estate attorney...

Vanilla

•

Feb 28, 2023

Once a client has their last wills and testament (“wills”) and revocable trust created, their financial situation doesn’t just stand still. More often than not, a client’s financial situation will fluctuate throughout their life. A pour-over Will brings added security to an estate plan–making room for all of those potential life changes–by explaining what to do with new and unaccounted assets. This helps keep up with asset changes between times when your client updates wills and trusts. What is a pour-over Will? A pour-over will is a last will and testament that is used in conjunction with a revocable (a/k/a...

Vanilla

•

Feb 23, 2023

SALT LAKE CITY, UTAH, UNITED STATES, February 23, 2023 /EINPresswire.com/ -- Vanilla, a leading estate advisory platform, has been named the winner of the 'Best Newcomer/Startup' category at the Second Annual WealthTech Americas Awards 2023. This prestigious award recognizes Vanilla's dedication to transforming how wealth advisors help their clients with estate planning. Estate planning has emerged as the next frontier of wealth advisory. Consistent and ongoing estate planning helps clients build their legacy, reduce family conflict at death, and minimize estate taxes. Vanilla gives advisors and clients an interactive, visual platform of the complete estate plan so clients can make...

Vanilla

•

Feb 22, 2023

Steve Lockshin unveils his step-by-step approach to building estate planning into your practice in a more meaningful way. How can financial advisors move upmarket and bring more value to clients? With the right approach to estate planning. There’s no better way to differentiate your offering and deepen client relationships. The webinar will give insights into: How to use estate planning to differentiate with UHNW clients How to engage new clients in estate planning, including specific questions to ask A yearly maintenance checklist for existing clients Commonly overlooked issues and ways to protect your clients Download the estate planning playbook here.

Vanilla

•

Feb 16, 2023

A step-by-step checklist to guide your client conversations. This playbook is inspired by the guide used by Steve Lockshin and his firm AdvicePeriod, based on Lockshin’s 30+ years of financial advice and estate planning for some of the most successful ultra-high net worth clients in the world.

Vanilla

•

Feb 14, 2023

A Spousal Lifetime Access Trust (“SLAT”) is an irrevocable trust set up by an individual (the “donor”) during his or her lifetime for the benefit of the individual’s spouse and if, desired, other family members. How does the SLAT Work? A SLAT is created under a trust agreement, which contains the terms of the trust and the name of the individuals or entity that will act as trustee (typically a trusted friend or advisor). A SLAT is funded by way of a gift from the donor to the SLAT. During the donor’s lifetime, the trustee can make distributions to the...

Vanilla

•

Feb 10, 2023

Win new clients by downloading and sending this presentation to potential clients and prospects alike. It can help them understand why estate planning matters and how you, as their trusted advisor, can make the process as simple as possible by using Vanilla.

Vanilla

•

Feb 09, 2023

When it comes to estate planning, “probate” is a term that looms large. You might hear talk of the complexity of probate, or strategies for avoiding probate — but what exactly is it? Put plainly, probate is the legal process that occurs after a person’s death. In probate, the court recognizes the validity of a Last Will and Testament (a “Will”) and appoints a personal representative for the decedent’s estate. The representative – also known as an executor or administrator – pays the decedent’s debts and then distributes the remaining assets to the beneficiaries. Though probate is simple to define...

Daniel Brockley

•

Feb 02, 2023

In 2021, Americans gave a whopping $484.85 billion to charities, a 4% increase from 2020. And that doesn’t account for gifts to family and friends outside of official charity organizations. Simply put, gifting is a huge part of our economy. Our guide provides a great refresher for advisors, and can also be given to clients to help educate them on their options when it comes to giving. Why consider giving? People choose to give for a variety of reasons, but there are two primary drivers that gifting has become such an important part of people’s lives (and their financial plans)....

Vanilla

•

Jan 26, 2023

Irrevocable Life Insurance Trusts (ILITs) are legal vehicles established specifically to own one or more life insurance policies and are set up during an insured’s lifetime. ILITs are created to own a life insurance policy and keep its proceeds out of the insured’s or owner’s estate to avoid increasing the size of their estate when the insured dies. When an individual owns an insurance policy (whether on his or her life or the life of another individual), the insurance policy is included in the individual’s estate at death and is therefore subject to federal estate tax (to the extent the...

Vanilla

•

Jan 24, 2023

If something should happen to your clients, regardless of their age or income, it’s crucial that they have a plan for their financial assets. As their financial advisor, you’re in the best position to keep your clients on task so they can reach their goals and ensure their families are taken care of. But between a myriad of documents, individual state requirements, and shifting federal estate tax laws, it’s no wonder the estate planning process can be overwhelming for financial advisors and their clients. That’s why we’ve created this easy-to-follow estate planning checklist. We’ll give you clear insights into a...

Vanilla

•

Jan 17, 2023

In a grantor retained annuity trust (GRAT) , a grantor transfers a particular asset(s) into an irrevocable trust and retains an annuity stream from the trust for a specified term of years. The annuity amount is calculated based on an IRS interest rate (referred to as the “hurdle rate”).  At the end of the trust’s term, if the grantor survives the term of the trust, any assets remaining in the GRAT (the appreciation above the hurdle rate) will pass transfer-tax-free to the named “remainder beneficiary”, generally a trust for family members. How does a GRAT work? Grantor retained annuity trusts...

Vanilla

•

Jan 10, 2023

Many people have charitable intentions that they would like to consider as part of their estate planning. However, donating assets outright during their lifetime may not meet their financial goals. A more advanced strategy, such as a charitable remainder trust, may provide the flexibility to meet their personal financial needs while guaranteeing that a charity or charities end up with the remaining asset at the end of the term or when the settlor/donor is no longer living. When to use a Charitable Remainder Trust (CRT): When you are charitably inclined; and, You have highly appreciated securities you would like to...

Jim Sinai

•

Dec 22, 2022

Gifting to your children is an excellent way to reduce estate tax liabilities, but sometimes it makes more sense to give directly to grandchildren, rather than to your children. Because these gifts “skip” a generation, they are referred to as generation-skipping transfers (GST) and have special tax treatment. There are a few important things to keep in mind when considering a generation-skipping transfer gift, including the generation-skipping transfer tax. We’ll break the tax down for you and give you a few more important pointers to pay attention to. What is the generation-skipping transfer tax? The generation-skipping transfer tax (or “GSTT”)...

Vanilla

•

Dec 09, 2022

Learn how FMB Wealth Management tackles the inevitable for clients – death and taxes – in a way that’s not only more efficient, but achieves greater outcomes. And, watch high-level demos of Holistiplan and Vanilla. Grant Blindbury details how he uses both technologies to achieve impactful results Discover how technology plays a key role in delivering differentiating value Watch product demos of Holistiplan and Vanilla

Vanilla

•

Dec 07, 2022

Making lifetime gifts is one of the most common, tried-and-true strategies to reduce estate tax liability. We’ll walk you through the major types of charitable and non-charitable gifts that you might want to consider, as this year draws to an end.

Vanilla

•

Dec 06, 2022

I am not an expert in estate planning. That may be a strange thing to admit for someone who runs a company focused on estate planning. What I do well (and what I find enormously rewarding) is identifying difficult problems, and – with the collaboration of great teams – use technology to solve them. When it comes to identifying which challenges to take on, I am drawn to areas where solving the problem can create real impact for individuals, families, and society. Estate planning is exactly this type of problem because it touches almost everyone. Helping individuals and families define...

Daniel Brockley

•

Nov 17, 2022

Trusts come up a lot in estate planning, and for good reason. They can be incredibly effective in helping fund education, provide for heirs, donate to charities and more. For high net worth individuals, trusts are also an important strategy to reduce taxable estates. The basics: What are trusts? Trusts are legal entities, much like corporations, which are considered distinct from the various parties involved. Trusts come in many forms, but in essence they are fiduciary arrangements in which, as the IRS states, “one person (the trustee) holds title to property or assets…for the benefit of another (the beneficiary).” The...

Daniel Brockley

•

Nov 03, 2022

Curiosity – genuine curiosity – is one of the most important traits a financial advisor can have. Sure, this means curiosity about the different levers and pulleys of the economic machine, but it also means curiosity about clients. Not just about their risk tolerance, but about what makes them tick. Their goals, their fears. What gets them out of bed in the morning. A deeper understanding of clients as people, not just portfolios, enables you to bring the kind of value that goes far beyond index funds. There are certain times in life that lend themselves to these clarifying conversations–when...

Vanilla

•

Oct 28, 2022

Learn how Dogwood Wealth Management created a three-pillar system that addresses client’s financial needs more holistically, for this generation and the next. Jason Newcomer, co-founder of Dogwood Wealth Management, joins Vanilla CMO Jim Sinai to discuss how he has created a process where estate planning–in addition to wealth advisement, risk management and tax planning–plays an essential role. Jason will outline his approach, and how he uses estate planning as a way to foster meaningful ongoing conversations with clients, rather than a set-it-and-forget-it approach. Newcomer will also discuss his tech-forward philosophy on advising, and how he’s developed a tech stack that...

Daniel Brockley

•

Oct 20, 2022

A last will and testament (also known as a will) is a legal document that outlines your instructions in the event of your death. It provides direction to your family, chosen representatives, and the court regarding how your assets should pass, as well as who should take care of your minor children (or pets!). Without a Will that expressly explains your wishes, the court will identify who gets your assets (generally your next of kin), based on applicable laws. And as for your kids? Well, without a Will, the court will make those decisions, too. In the United States, wills...

Vanilla

•

Oct 07, 2022

Daniel Gregoire at RightCapital is joined by Vanilla’s Co-Founder Steve Lockshin to discuss the impact of potential tax law changes on estate planning and how it can affect your most valued clients. Innovators like RightCapital allow advisors to differentiate with intuitive financial and tax planning. As Biden approaches approval for new tax law changes, advisors are expected to assist their clients by anticipating and navigating these changes. As the advisor, it’s important you have conversations with your clients to guide them on how to prepare for newer, more stringent tax regulations. The main topics of discussion include: The potential impact...

Daniel Brockley

•

Oct 04, 2022

It’s officially a bear market, now what? How advisors can add value when times are tough It’s brutal out there. After riding the sugar high of the pandemic, client portfolios – and probably your own portfolio as well – have found themselves in miserable hangover territory. The S&P recently hit a two year low and the Dow, not to be outdone, touched a yearly bottom as well. Instead of celebrating portfolio windfalls with your clients, you’re likely having some difficult conversations. But as challenging as these times are, there’s opportunity here. The current climate is the perfect chance to show...

Vanilla

•

Sep 19, 2022

Tax planning for clients with taxable estates has always been complex. The best way to explain strategies is with diagrams, not documents. That’s why we’ve put together this deck of 10 diagrams to explain some of the advanced estate planning strategies and why anyone with $10M in assets should care about estate tax.

Jim Sinai

•

Sep 19, 2022

  Tax planning for clients with taxable estates has always been complex. We’ve learned the best way to explain estate planning strategies is with diagrams, not documents. That’s why we’ve put together this deck of 10 diagrams to explain some of the advanced strategies and why household with $10M in assets should care about estate tax. Why $10M in household assets? In 2026 the Estate Tax exemption drops down to just about $10M (or higher based on inflation). The 10 diagrams explain both why you need advanced strategies and how 8 different strategies work. We’ve explained them all below but...

Vanilla

•

Aug 04, 2022

Los Angeles, CA, August 4, 2022 - Vanilla, the award-winning Estate Advisory Platform, designed to transform how wealth advisors help their clients manage their estate and build their legacy, announces the addition of Jim Sinai as Chief Marketing Officer and Karen Nachbar as General Counsel. Jim and Karen join following a $30m Series B investment led by Insight Partners to round out a leadership team announced earlier this year and accelerate Vanilla’s growth. As CMO, Sinai will lead the marketing function reporting to Gene Farrell, CEO. Jim brings his extensive background in introducing new software products, launching brands, building demand,...

Jim Sinai

•

Jul 01, 2022

Organization administrators can now require users to enable multi-factor authorization (MFA) for their personal accounts. Users will be required to enable MFA through either SMS or an app-based authenticator (ideally both) before accessing Vanilla. MFA is an extra layer of security that helps prevent malicious actors from gaining access to your organization's data. Please reach out to your rep about having this feature turned on! Notes: Organizations that exist will have to contact Vanilla to turn this feature on. Newly onboarded organizations will have to tell sales/customer success if they want this on when they create an org.

Vanilla

•

May 25, 2022

How millennials think about wealth management—including estate planning Millennials take their financial lives seriously—and they’re ready to enlist the experts to help. The past few years have seen a lot of change in the financial lives of millennials. The generation born between 1981 and 1996 is approaching their peak earning years and hitting major milestones from having kids to buying houses to starting businesses. According to one report, there are more than 618,000 millennial millionaires in the United States. And with the Great Wealth Transfer on the horizon, millennials are poised to inherit another $68 trillion from their Baby Boomer...

Vanilla

•

Apr 28, 2022

Los Angeles, CA, April 28, 2022 - Vanilla, the award-winning estate and wealth management platform, today announced that it raised $30 million in a Series B funding round led by New York-based global private equity and venture capital firm Insight Partners. Vanilla will use the funding to accelerate product development and support rapid customer adoption as it works to revolutionize how financial advisors and households of all wealth levels build their legacy. Vanilla is seeking to reshape the $180 Billion estate planning industry by offering the first comprehensive, fully digital estate planning platform designed to support the legacy building process...

Jim Sinai

•

Apr 18, 2022

Users can now enable multi-factor authentication for their own accounts. After enabling multi-factor authentication, you are required to enter your Vanilla password and a temporary one-time password every time you sign in. To enable and use multi-factor authentication, you must have a mobile device or password manager which supports multi-factor authentication installed.

Vanilla

•

Jan 04, 2022

Los Angeles, CA, January 4, 2022 - Vanilla, the award-winning estate and wealth management platform designed to improve how advisors interact with their clients and prospects announces the addition of three key leaders to drive the next phase of rapid growth. These additions come on the heels of Vanilla’s $14.3 Million Series A closing, led by blue-chip investor Venrock. Gene Farrell has joined as CEO, Amjad Hussain as CTO, and Robin Melnick as SVP of Revenue. All three of these leaders bring extensive experience in building and leading enterprise software companies and will help accelerate the development of the Vanilla...

Vanilla

•

Oct 20, 2021

Easy, effective estate planning can be brought in-house to every advising firm — and it should. By offering personalized plans for all clients (not just the ultra-wealthy), firms can get ahead of the curve, cultivating a multi-generational client base. Vanilla simplifies this often cumbersome process by fusing decades of estate planning expertise with great design, empowering firms of all sizes to grow their offerings at scale.

Vanilla

•

Oct 14, 2021

We are on the brink of the largest transfer of wealth in American history. In the next 25 years, as much as $84.4 trillion from 45 million U.S. households will be passed down from older Americans to their Millennial and Gen X inheritors. This exchange of wealth and change in who the wealthy demographic is will dramatically shift the landscape of wealth management across the U.S. The stakes are high for financial advising firms. Most firms have naturally focused on an older client base since they hold a significantly larger portion of wealth and have a higher interest in investments. If...

Vanilla

•

Oct 07, 2021

Nowadays, it’s not enough to focus your efforts only on investment management for your clients. A recent report from Accenture shows that clients want their financial advisors to offer guidance about complicated life choices. If you’re not delivering value beyond traditional financial planning, you may be missing an opportunity to differentiate in a rapidly changing landscape. This presents an opportunity for advisors to future proof their business and build deeper relationships by providing added tax and estate planning value in their offering. Watch leaders of Just Invest, F2 Strategy, AdvicePeriod, and Vanilla as they discuss how the future of financial...

Vanilla

•

Oct 07, 2021

Thanks to innovators in the advisory space like Betterment, advisors are able to leverage technology to deliver a better experience to more clients. As the landscape continues to evolve, advisors are expected to deliver something technology cannot — a three-dimensional view of your clients’ finances, life and death included. Talking about what happens to one’s financial legacy upon death is an emotional conversation that requires trust and humanity. Fortunately, as the advisor, you’re in the best position to advise a client on their entire financial picture and how planning decisions impact other parts of their family’s finances. In part one...

Vanilla

•

Oct 06, 2021

Estate planning is essential. It is also extremely difficult to understand for most people, including advisors. In this e-book you’ll find a dictionary of terms and definitions most commonly used by estate planning professionals.

Vanilla

•

Oct 06, 2021

Watch Aaron Klein, CEO at Riskalyze, and Steve Lockshin, Co-Founder at Vanilla, talk about what the impact of estate planning has for your clients, how Vanilla delivers a new experience by integrating workflows seamlessly between clients, advisors and attorneys, how Vanilla designed its product to remove UPL risks and more.

Vanilla

•

Oct 06, 2021

Over the past decade, most RIAs have transitioned from an investment focus to a planning focus. But while financial planning has become table stakes for the modern advisor, estate planning remains a powerful means of differentiation. Before coming together to start Vanilla, David Hauser became Steve Lockshin’s client after selling Grasshopper for $170 million in 2015. With estate planning being the focus of the relationship, we will walk through the impact of estate planning from both the client and advisor’s perspective. With estate planning becoming more of a clear differentiator, Steve and David will discuss the current state of estate...

Vanilla

•

Sep 13, 2021

Estate planning is often treated as a “set-it-and-forget-it” topic, but it is vital—especially for wealthy clients—to stay on top of changes in law and in assets because failing to account for current tax law can put your heir’s inheritance at risk of significant reduction. Proposed capital gains tax changes will dramatically shift thresholds, making it more vital than ever for financial advisors to help their clients keep estate plans current and comprehensive. Historically, the step-up basis has been one of the strongest strategies for wealthy individuals to avoid paying capital gains taxes at death, but proposed changes to tax law...

Vanilla

•

Aug 30, 2021

Disruptive Estate Planning Startup Founded by Steve Lockshin Secures Funding Through Legendary Venture Capital Firm, Launches Partnerships with Orion and Addepar, and Welcomes F. William McNabb III, Former CEO and Chairman of Vanguard Group, as a Director. Los Angeles, CA, August 30, 2021 - Vanilla has raised $11.6 million in a Series A funding round led by renowned venture capital firm Venrock as it helps to revolutionize estate planning for households of all wealth levels and their financial advisors. Vanilla, founded by high-profile financial advisor and wealth management entrepreneur Steve Lockshin, is the first comprehensive, fully digital estate planning solution...

Vanilla

•

Aug 13, 2021

Ultra-high net worth (UHNW) individuals’ estates are inherently complex and far-reaching, so having a comprehensive estate plan is vital to ensure a smooth transfer of wealth between generations and avoid expensive legal battles at death. But that doesn’t guarantee that these UHNW individuals are any more educated on estate planning processes and pitfalls. Even though 64% of wealthy individuals place a high value on the legacy they can pass on to the next generation, a full 39% do not have a comprehensive estate plan, according to the U.S. Trust Insights on Wealth and Worth. As their trusted financial advisor with...

Vanilla

•

Jul 19, 2021

Deciding who gets what after one’s passing is tough. According to a survey by Caring.com, only 42% of American adults have essential estate planning documents, such as a will or a living trust. People avoid planning for the inevitable for many reasons. But for blended families, a major reason is that estate planning requires more than a simple will. Many difficult questions come up: How do I ensure everyone is well taken care of after I am gone? Should I leave everything to my spouse and hope they take care of my children? How do I avoid disinheriting my children?...

Vanilla

•

Jul 08, 2021

You’ve built a solid financial foundation for your client, made investments with an eye on the future, and helped them strive toward making their financial goals a reality—but what happens once they pass on? Without preparation, the months following a client’s death can be a chaotic mess for a financial advisor. Assets need to be found, collected, and handed over to whoever is handling the estate. You put in hours of work, and in the end, you are left clientless, watching the assets you carefully tended for your client in life tangled in probate court and wasted on fees and...

Vanilla

•

Jun 14, 2021

As the financial planning industry anticipates the Great Wealth Transfer from baby boomers to their heirs, reports show that at least 80% of adult children and heirs will find their own advisors after receiving an inheritance. In other words, if you’re waiting until your client dies to introduce yourself to their family, you’ve waited too long to win their heirs as new clients. But there’s good news: family estate planning provides the perfect opportunity to connect with your client’s family early on and cultivate an ongoing relationship that can extend into the next generation. By anticipating their family’s estate planning...

Vanilla

•

Jun 07, 2021

June 7, 2021. New York, New York. WealthManagement.com has recognized Vanilla, an award-winning comprehensive estate planning platform, as a finalist for its 2021 Industry Awards for the second year in a row. Every year, WealthManagement.com’s Industry Awards recognizes companies that make an exceptional impact in the world of financial advisors. After reviewing hundreds of entries, the judges made up of top names in the industry carefully selected who they believe have supported the success of financial advisors to an outstanding degree. The criteria was based on quantitative measures of their initiatives—such as scope, scale, adoption and feature set—along with qualitative...

Vanilla

•

May 24, 2021

According to a survey from Caring.com, 2021 marks the first year that young adults ages 18-34 are more likely to have a will than those ages 35-54. COVID-19 seems largely responsible for this shift, but the pandemic hasn’t just impacted the younger generation. Participants of all ages agreed that the advent of COVID-19 has caused them “to see a greater need for estate planning.” As a financial advisor, this means you can expect more clients to turn to you for estate planning guidance in the coming days. With this influx of client needs, it’s important that you understand and can...

Vanilla

•

Apr 22, 2021

One of the biggest estate planning mistakes people make is placing the power and responsibilities of a trustee in the wrong hands. Poor fiduciary selection can lead to family in-fighting, lengthy legal disputes, and a substantial loss of assets due to mismanagement. As a relationship-driven financial advisor, it’s essential that you understand the role of a fiduciary trustee and that you help your client select the right individuals or corporations to act as fiduciaries for their estate. A trustworthy, knowledgeable trustee helps safeguard the estate plan from mishandling and assures that beneficiaries get the full value of the assets. What...

Vanilla

•

Apr 14, 2021

April 14, 2021. Steve Lockshin’s Vanilla, a comprehensive estate planning platform, announces the release of “Vanilla 2.0” now available for new and existing users. Vanilla 2.0 is the latest version of Vanilla’s product offering designed to proactively manage the estate planning of an advisor’s entire client base. Vanilla is the first comprehensive estate planning solution that allows advisors to proactively monitor all of their clients, visualize existing planning, and take action through document creation. ‘Because estate planning can be so difficult to understand even with an experienced eye, Vanilla creates a way for us to bring simplicity to an experience...

Vanilla

•

Mar 26, 2021

Most ghost stories are about unfinished business. Whether it’s a spooky campfire tale or a literary classic from the dark imagination of Edgar Allen Poe, a horror story plotline remains the same: the spirits of the departed haunt the living because there’s an unresolved matter preventing the deceased from moving on. So what does all of this have to do with estate planning? A poorly made or forgotten-about estate plan is like a ghost: It leaves your client and their loved ones vulnerable to hauntings of the financial kind. When people in mourning have to deal with their deceased relative’s...

Vanilla

•

Mar 22, 2021

It’s common for clients, financial advisors, and estate planning lawyers to treat estate planning and financial planning as separate entities. But financial plans and estate plans are closely intertwined. Without a well-made estate plan, all the financial goals a client achieves can fall apart. Sadly, a poorly made estate plan often leaves the grieving family to pick up the pieces. You can advise your client on strategies for maximizing assets, but for asset protection, they need an attorney. When financial assets change, so should an estate plan. An attorney can provide the legal expertise by recording and adapting the estate...

Vanilla

•

Mar 08, 2021

Financial advisors faced a down wave of change before the pandemic. Over the past year, that wave grew into a tsunami that continues to test advisor-client relationships. The most resilient firms — those that have retained at least 99% of their clients over the past year — understand the power of prioritizing relationship quality over quantity. According to a 2020 Price Metrix report from McKinsey, advisors with the highest levels of client retention “have deeper relationships and fewer client relationships.” While they serve fewer households, advisors with low attrition rates manage more accounts per household. One of the most powerful...

Vanilla

•

Feb 08, 2021

February 8, 2021. New York, New York.—InvestmentNews has recognized Vanilla as a 2021 Innovation Award finalist. Vanilla, along with twelve other firms, were chosen as finalists from several hundred nominations by a committee of InvestmentNews representatives. The judges recognized firms for their creative and novel systems that help financial advisors take care of their clients, run their businesses, and boost client outcomes. ‘Show your clients you care about more than their money.’ — VANILLA Each of the advisors, executives, and firms who made the fifth annual InvestmentNews Icons and Innovators list were chosen from a rigorous selection process designed to...

Vanilla

•

Feb 02, 2021

Tempted to give your clients free estate planning documents to create a will, trust, or other after-death protections? Think again. Free estate planning documents come with risks that may ultimately cost clients and their heirs more than they saved in legal fees. Let’s take a look at some of the significant — and expensive — problems that using free estate planning documents could cause. 1. Excluding family members from a will Free DIY wills don’t always tailor an estate plan to an individual’s circumstances and goals. This is particularly the case for blended families and new additions when it's easy...

Vanilla

•

Jan 26, 2021

As the U.S. gains a new president and a new majority in the legislative branch, proposed changes to the federal estate and gift tax will transform the way wealth passes from one generation to the next. For wealthier families, this means the loss of allowances they’ve benefited from under a looser estate tax regime. As a financial advisor, the possible changes provide an excellent opportunity for you to deepen relationships with your clients. This quick guide will help you educate them on what to expect and offer guidance on how to navigate newer, more stringent estate tax regulations. Changes in...

Vanilla

•

Dec 21, 2020

An estate plan is the story of someone’s legacy. But for advisors and clients alike, that story is hidden under layers of arcane legal mumbo-jumbo. At Vanilla, we’re using visual design to cut through complicated legalese and illustrate the crucial details of estate plans. We call this simplified, diagrammed approach to estate management “estate reporting.” Using our design studio roots to reimagine estate planning We see many of the broken processes in estate planning as design problems. Most of our founding team have strong graphic design backgrounds, so we approach problem-solving in a more visual way. As designers, our process...

Vanilla

•

Dec 11, 2020

  Imagine that you're having your first consultation with a new client. You ask them whether they have an estate plan in place. They proudly tell you that they drew up a will and assigned guardianship as soon as their first child was born — 25 years ago. Job well done, next question — right? Not quite! Let's examine why treating an estate plan as a one-off task comes with significant risks that could end in nightmare scenarios for your client and their family. 1: Beneficiaries and fiduciaries are often temporary While your client may express a desire to designate...

Vanilla

•

Dec 02, 2020

  With more young adults living with their parents now since the Great Depression, families with college-age children need questions answered about where parents’ legal rights begin and end. As a financial advisor, you should be ready to answer the questions your clients have, such as “how do I get a medical power of attorney?” and connect them with the documents they and their adult children need to protect their families. This concise guide will help you point your clients in the right direction. “What are the legal realities of my child turning 18?” When a young adult turns 18,...

Vanilla

•

Nov 18, 2020

It’s sad and shocking to learn that beloved actor Chadwick Boseman died recently without a will. At no point did he draw up documents to ensure his loved ones knew his wishes for how to handle his near-million-dollar estate after he was gone. Chadwick Boseman is just the latest in an ever-growing list of Black public figures—and famous people from other marginalized groups—who left an enormous positive impact on the world but left legal strife for their loved ones. If so many extraordinarily successful people die without a clear plan for what should happen in the event of their death,...

Vanilla

•

Oct 28, 2020

There are no do-overs when a person needs their estate planning to go into effect. Sure, financial advisors and attorneys can help them plan ahead of time, but when they need their estate plan to kick in, there’s no opportunity for revisions and no last-minute chance for planning. Knowing the impact that a lack of planning can have on a family is why I joined the team that, in 2019, created Vanilla. Vanilla started as a client project at our design studio and has since transformed into a company that makes estate planning more efficient, easier to understand, and accessible...

Vanilla

•

Sep 25, 2020

Who needs estate planning? Everyone. But a lot of people avoid estate planning because they think they’re too young, they’re too busy, they feel estate planning is too expensive or too complicated, they’ve done it once in the past and don’t think they need to again, or they just don’t believe they have anything to plan for. The costs of making excuses not to estate plan can be high. Failure to plan means probate could keep beneficiaries in court for years while their assets are frozen and expenses mount. It could even mean that those they worked hard to take...

Vanilla

•

Sep 16, 2020

As a financial advisor, you may be uncertain about the myriad of estate planning documents clients use, and which to recommend for the best possible financial outcomes for your client. Estate planning documents come in all shapes and sizes, but good planning documents need to address specific, important details. To help you sort through your clients’ paperwork, here’s how to discern if all those forms are well executed, high-quality estate planning documents. High-quality estate planning documents are updated regularly Thinking about the future and completing estate planning documents is an excellent first step, but your client’s financial situation is bound...

Vanilla

•

Sep 11, 2020

September 10, 2020. New York City, New York. - Today, Vanilla was presented with an award from the 6th WealthManagement.com Industry Awards under the category “Disruptors: Technology.” ‘A near record-breaking number of nominations and companies participating in 2020.’ — WEALTHIES The WealthMangement.com Industry Awards recognizes companies that make an exceptional impact in the world of financial advisors. Companies who make a true difference in the day-to-day success of financial advisors. This year, more than 200 companies were nominated across 73 different categories. Companies ranging Carson Group, Fidelity Investments, Morning Star Inc, and more, competing in categories like Asset Managers, Disruptors,...

Vanilla

•

Sep 04, 2020

By the time I sold my third company, Grasshopper, to Citrix in 2015, we had bootstrapped the company from virtually nothing to more than $30 million in annual recurring revenue. We spent 12 years refining our technology and more importantly, helping other entrepreneurs succeed and build their own companies. For many entrepreneurs, selling their company is the end goal. An acquisition by a major multinational might prompt some founders to start thinking how they’d spend their time—and money—once the ink was dry. For me, selling my company made me think about my own death and what I’d be leaving behind—and...

Vanilla

•

Aug 24, 2020

Estate planning is evolving. In a shifting landscape, financial advisors need to demonstrate value to their clients. One of the best ways to help your clients is to educate them about the risks of outdated estate planning documents, which, if left unchecked, can lead to serious consequences for them and their families. Of course, the estate planning process itself is somewhat outdated. Financial advisors often have no visibility into the conversations clients are having with third-party attorneys, creating an opaque, disconnected system with many moving parts. It’s difficult for financial advisors to offer the best advice when they can’t see...

Vanilla

•

May 19, 2020

Thanks to recent technological advances, basic investment management doesn’t cut it for your clients anymore. You’re expected to deliver something technology cannot — a three-dimensional view of your clients’ finances, life and death included. Talking about what happens to one’s financial legacy upon death is an emotional conversation. It requires trust, and it requires humanity. If you can manage to have that conversation, your clients might learn that their investment returns aren’t necessarily worth much to their family without proper estate planning. People who pass away without properly planning their estate leave their family susceptible to years of legal hassle....