Customers of Fifth Third Bank are granted complimentary access to draft their wills.
Fifth Third Bank, a leading financial institution, is expanding its suite of financial wellness services to support customers' overall financial health. The bank's focus on customer financial wellness is evident in its diverse offerings, which range from wealth and asset management to financial literacy and education.
One of the bank's notable initiatives is its partnership with Trust & Will, a digital estate planning platform. This partnership enables Fifth Third customers to create wills at no charge, starting from Monday. Notably, Fifth Third is the first bank to offer this service for free, with customers able to apply a $299 credit toward a single or joint trust, including the will in that trust plan.
Beyond will creation, the partnership with Trust & Will emphasizes integrating estate planning into the financial wellness journey, fostering deeper client relationships and multi-generational wealth planning.
Erin Crawford, head of consumer digital - payments and money management at Fifth Third, stated that the bank aims to bolster benefits for customers and differentiate itself among competitors. She pointed to other bank products and services that enable early payment or goal saving as examples of the bank's commitment to financial wellness.
In addition to its estate planning services, Fifth Third is developing financial "experiences" to help customers in delinquency manage and pay off their debt. The bank is "constantly thinking about, what's that extra benefit that's going to boost the foundation of our product?" according to Crawford.
Fifth Third is also exploring further fintech partnerships to offer more benefits to customers. In the first quarter, the bank reported stable core deposits, supported by 2% total household growth compared to the first quarter of 2024, and 5% growth in the Southeast.
The bank is also working on providing better visualization of customers' spending for easier management. This focus on user-friendly financial tools aligns with Fifth Third's aim to build and deepen relationships with customers and fortify ties with clients.
For more detailed and updated information about Fifth Third Bank’s financial wellness services, visiting their official website or contacting their financial advisors could provide valuable insights into any new or specialized services they currently offer.
Fifth Third Bank, in addition to its focus on traditional finance and wealth management, is venturing into the fintech industry, aiming to offer estate planning services through its partnership with Trust & Will. This initiative, set to begin on Monday, offers customers free will creation and the opportunity to apply a $299 credit toward a single or joint trust, including the will in that trust plan. Furthermore, the bank is developing financial experiences to help customers manage debt, and is exploring further fintech partnerships to offer more benefits, enhancing its commitment to comprehensive financial wellness.
