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Health-Planning FinTech Startup Finds UHNW Partner

BMO Wealth Management has partnered with health and longevity planning platform Genivity to help prepare clients to afford healthcare as they age.

In light of an increasing number of financial advisors having a role in the healthcare needs of clients, BMO Wealth Management has partnered with health and longevity planning platform Genivity, the ultra-high-net-worth wealth management company announced. Genivity uses a self-guided assessment tool to collect information and output personalized longevity and healthcare cost projections.

“Healthcare cost in retirement is a top concern for many of our clients,” said Darrel Hackett, president of BMO Wealth Management U.S. He expects the platform to better prepare clients to afford healthcare costs as they age, as well as helping advisors fine tune financial plans for unforeseen risks by providing more precise estimates of long-term healthcare costs. The program will be piloted for clients in Florida and the Chicago suburbs.

“Our mission is to make sure that no one runs out of money in retirement due to health and elder care costs,” said Heather Holmes, founder and CEO of Genivity. Last year the company was one of three winners at the BMO Harris/1871 FinTech Partnership.

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