Covet.Life Revolutionizes Wealth Management at Finovate with AI-Driven Estate Asset Management

At Finovate, Covet.Life made waves by introducing its cutting-edge platform, designed to address the critical challenges of estate asset management. With its AI-powered technology, Covet offers Registered Investment Advisors (RIAs) a revolutionary way to not only retain but grow their Assets Under Management (AUM) by proactively engaging with clients’ heirs and providing a comprehensive, transparent view of their estate.

1. The Silent Threat to AUM: Heirs’ Exodus
   • Up to 80% of heirs transfer assets away from their parents’ advisor.
   • This generational disconnect poses a significant risk to advisors, unrelated to the quality of service.
   • Advisors face losing substantial AUM simply because they are not the trusted partner for the inheritors.
2. Covet: The Bridge to the Next Generation
   • Covet provides a dynamic solution for RIAs to build and maintain relationships with the next generation of clients.
   • The platform goes beyond traditional estate planning tools to actively manage and retain multigenerational wealth.
   • Key benefits of Covet include:
     • Unlocking Hidden Assets: AI-driven insights identify previously overlooked assets, fueling AUM growth.
     • Forging Multigenerational Bonds: Enhances engagement with the entire family, strengthening relationships across generations.
     • Retaining Heirs Before the Transfer: Positions advisors as trusted resources for both clients and beneficiaries, ensuring loyalty before wealth transitions.
3. Beyond Vaults and Planning: The Covet Management Engine
   • Covet is designed for long-term, organic growth for advisors.
   • Unlike static vaults or traditional planning tools, Covet uses AI to manage all aspects of estate assets.
   • Features include:
     • Illuminate the Shadows: Identifies and catalogs overlooked assets such as held-away retirement accounts and forgotten investments.
     • Orchestrate Diverse Holdings: Manage real estate, valuable possessions, and even digital assets on a single platform.
     • Elevate Advisor Value: Facilitates family-level planning, building profound trust with clients and their heirs.
4. The Covet Advantage
   • Covet is more than just software; it’s a strategic tool for deepening client relationships and securing wealth for future generations.
   • The platform provides advisors with a comprehensive understanding of their clients’ estates, making them indispensable partners in managing wealth.

Covet.Life’s innovative platform represents a major leap forward for the wealth management industry. By using AI to manage and visualize estate assets, Covet enables advisors to forge lasting relationships with the next generation and secure AUM growth for years to come.