Tens of millions of people are living with disability. Statistically, each wealth manager and financial advisor has people in this situation in their practice.
And while there is no sugarcoating how hard living with disability can be, there is a silver lining. The financial services ecosystem can help people with disabilities and their families plan for their future, and grow itself at the same time.
The obstacles to using one of the best financial planning products for people with disabilities – special needs trusts – are clear. Individual special needs trusts are expensive to write and trust minimums are high. And pooled trusts, which are financially accessible for many families, have been too opaque to be a mainstream solution. Until now.
Visibility has many benefits.
Organizations interested in partnering, or in M&A, now have access to independent, industry-level data.
Organizations wanting to reach pooled special needs trusts have an efficient and effective channel to do that.
Advisors and home offices can identify the pooled trusts that are a fit for them given the broad array of business models, trust terms, cost structures, and ancillary services offered.
RIAs, Advisors, and Broker/Dealers wanting to work with clients to build deep and intergenerational relationships can use pooled special needs trust as the jumping off point for family centered planning, solutions for trust funding, and special needs planning.