Trust & Will Raises Strategic Investment Round to Help More Families Leave a Legacy Leading Financial Institutions Invest in Estate Planning and Settlement Platform
San Diego, CA
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February 23, 2023 08:01 AM Eastern Standard Time
Trust & Will, the leading digital estate planning and settlement platform, has raised a new round of strategic investments from leading financial institutions, including Amex Ventures, Northwestern Mutual Future Ventures, SEI Ventures, and USAA.
This financing builds on previous investment rounds, with more than $48 million raised since the company’s founding in 2017. Trust & Will plans to use the new capital to scale operations and further integrate with leading financial institutions.
“We’re in turbulent times as macroeconomic trends continue to impact the tech sector at large, so raising capital in this environment is truly remarkable. We’re honored to have Northwestern Mutual Future Ventures double down on their first investment from 2020 and welcome SEI Ventures, USAA, and Amex Ventures to the Trust & Will family,” said Cody Barbo, Founder and CEO of Trust & Will. “Our team is fully aligned on using this capital to further lean into our mission and help even more families leave their legacy in the years to come.”
Nearly 60% of American adults do not have a will or trust. Trust & Will provides an easy and secure way to create estate plans and settle estates online, with the ability to customize legal documents that adhere to individual state and county guidelines. The company recently launched Trust & Will Probate in October 2022, streamlining probate and estate settlement with affordable options.
“Trust & Will is transforming the digital creation and updating of trust and wills, helping reduce friction for families to create a plan that fits their lives' needs and fulfills their legacies," said Russ Kliman, Global Head of SEI Ventures. "We're excited to extend our strategic partnership with this investment in Trust & Will, and we look forward to working with their leadership team as they deliver solutions that help provide a seamless wealth management experience."
“Estate planning is an essential pillar of sound consumer financial wellness. Yet today, the process is complex, antiquated, and expensive. Trust & Will is modernizing the estate planning industry with a simple, fast, and affordable way to set up an estate plan online,” said Margaret Lim, Managing Director at Amex Ventures. “We are excited to invest in the growth of Trust & Will and to explore opportunities to partner with them.”
"It's an honor to work alongside the Trust & Will team,” said Craig Schedler, Managing Director of Northwestern Mutual Future Ventures. “We look forward to continuing to support them on their journey as they grow into market leaders in their space, providing critical support to families and individuals with easy-to-use trust and estate products.”
“At USAA, we’ve made it our mission to empower our members – America’s military families – to achieve financial security,” said USAA VP of Corporate Development Nathan McKinley. “Estate planning is a critical but often neglected part of financial security. Trust & Will is pioneering better solutions for consumers, and we’re excited to be a part of that.”
About Trust & Will
Trust & Will is simplifying estate planning and settlement with attorney-approved, legally valid documents and processes designed to adhere to individual state guidelines. Since 2017, we’ve helped hundreds of thousands of Trust & Will members leave their legacy with an affordable way to create an estate plan or settle the estate of a loved one. Our platform uses bank-level encryption that protects customer data and complies with the highest security standards, including SOC 2 and HIPAA. Trust & Will is the official estate planning benefit provider for AARP members, along with several leading financial institutions, who all believe in our mission of helping every family leave their legacy. To learn more, visit trustandwill.com.
About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change and help protect assets—for growth today and in the future. As of Dec. 31, 2022, SEI manages, advises, or administers approximately $1.2 trillion in assets. For more information, visit seic.com.
About USAA
Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and investment and retirement solutions to more than 13 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, USAA has offices in seven U.S. cities and three overseas locations and employs approximately 36,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. or more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.
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Danielle Nuzzo
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