Trust & Will

“The trust makes up a considerable amount of our revenue, considering that our base products, the guardian is at 50 dollars and our trust product is at 500. It is a 10 X jump to the trust.”

“Revenue run rate, yeah, we broke a million in 2019, which was awesome.”

“Because we felt that a free product within estate planning can actually communicate distrust. Well, what's the catch if I'm making these sensitive decisions, right? What's the catch of a free estate planning document? So that's why we like the paid product.”

“So we're seeing about one in a hundred folks come back to make that initial update without any marketing around the fact that, hey, you should come back and update if you've had any of these life events as triggers.”

“Because it's kind of crazy, like an estate plan, if you go to an attorney, you're going to spend anywhere from two to 5000 dollars to set this up, just to make a simple update, like you had another kid, you bought a new property, you moved It might cost you a …”

“So one of the roles that we're hiring for right now is a channel sales rep. We want to tap into the 300,000 financial advisors, wealth managers, CFPs in the country that often talk to their clients about estate planning from day one.”

“I mean, it's north, it's between comfortably sharing north of 5000.”

“And then by the time we finished tech stars, I think we wrapped up like you could call it pre-seed funding, but we had collected about half a million dollars at that point, but we had invested a couple 100,000 to get the product to where it needed to be.”

“We're seeing about a hundred signups a day or more, which is fantastic. And our conversion is anywhere from 10 to 20%, depending on the product, depending on the day.”

“We'll break a million dollar subscription run rate as well.”

“And then we have our kind of history defining milestone was last year in January, we did the first electronic will in history, US history, which means digital signature, digital notary, digital storage of documents.”

“We've had about 65,000 people sign up for Trust & Wealth for one of those three products.”

“So we have Haven Life where they have a benefits package called Haven Life Plus. They've wrapped in our will as a free will for their life insurance policyholders.”

“That if they canceled out of the subscription, they came back in three years because they had another kid, they want to update their trust, it's going to cost them the full purchase price versus that 50 bucks a year recurring.”

“We raised our seed round that we announced in January of last year of two million. We announced our series a last month of six million.”

“So for example, we have a family plan where you can buy multiple plans. They don't. So it's a way for them to validate that. They all have subscription. We don't.”

“Trust & Will right now has been focusing on estates, on will, sorry, and trust. As they get bigger into the US, I'm sure they're going to start to build this idea of, you know, document storage and guided journeys.”