Self-described “aging planning software” Whealthcare Planning announced the addition of Suzanne Siracuse, the former CEO of InvestmentNews, to its board, along with a funding rounding aiming for $2 million in capital, according to an announcement. The software company helps advisors address difficult questions with their clients around topics like aging, maintaining independence, evaluating financial literacy and broaching delicate health care decisions through a series of assessments.
Nearly 100 investment advisory firms use the software, according to the company, but the addition of Siracuse and the fresh capital are designed to spur the firm’s growth in the wealth management industry. “We need to get the large enterprises on board,” said co-founder and financial advisor Dr. Carolyn McClanahan. Advisors are often afraid to broach sensitive topics around end-of-life, even though financial decisions made then can have outsize consequences, she added.
The firm has both an advisor-facing tool and a direct-to-consumer option. The public-facing option is designed to both help the general public and generate leads for advisors if the client approaches a situation where he or she would feel more comfortable working with a professional, said Dr. McClanahan.
“The financial planning needs for families with aging members have never been more visible and critical in our society,” said Siracuse. “I have been incredibly impressed with what the Whealthcare Planning tools provide advisors.” In addition to her duties as a board member, she will serve as a strategic advisor.
Whealthcare Planning was named a 2019 WealthManagement.com Industry Award winner.
