Wells Fargo & Co. (NYSE: WFC)’s Wells Fargo Private Bank is expanding its “Elder Services” program to the east coast. The program, designed to serve as a premium wealth and life management solution for senior customers, aims to combine wealth management services and life management assistance to help aging adults deal with, according to a statement, “everything from loss of a spouse to mobility and health challenges as well as investment management, ultimately helping clients maintain their independence and quality of life.”
“Over the next 20 years, the U.S. population is expected to grow by 18 percent, while the elderly population is projected to see 78 percent growth. We are now positioned to help serve clients from coast to coast as these needs increase,” said Keith Klovee-Smith, national manager of Wells Fargo Elder Services. “Seniors often live far from relatives, and even when they’re close by, relatives may find personal and financial management challenging. We expect the need for Elder Services to triple over the next two decades, which makes our presence in the East so crucial. We are committed to serving our clients in all stages of their lives.”
The “Elder Service” program can assist clients with everything from paying bills, to finding in-home help and monitoring various health issues. Wells Fargo & Co. (NYSE: WFC) Private Bank employees can also help manage commercial real estate and other issues.
“Specialists help clients in building out systems of support both within the bank and externally in the community,” added Klovee-Smith. “We have a strict due diligence process with outside partners. We want to create a safety net for our clients consistent with their needs and preferences. To this end, we provide a health and wellness assessment, medical claims processing and assistance with personal income taxes as part of all of the other assistance given.”
Wells Fargo & Co. (NYSE: WFC) first established its Elder Service program in 1997 with specialists in over 40 metropolitan areas across the country. Wells Fargo & Co. (NYSE: WFC)’s Private Bank recently expanded Elder Services to Wells Fargo Private Bank offices in Connecticut, Delaware, Florida, North Carolina, Pennsylvania, South Carolina, Southern New Jersey, Virginia and Washington, D.C. P
