Bank Starts Elder Services Asset Management Services For Clients


Wells Fargo is bringing its Elder Services program -- a unique set of financial, personal and life management services to help elderly clients -- to greater Arizona.

The Elder Services program helps clients maintain their independence and quality of life, with services ranging from paying bills and finding home help, to managing commercial real estate and monitoring health issues. In 2004, the American Society on Aging awarded the program with an Honorable Distinction.

Launched in 1999, the program is part of Wells Fargo's Wealth Management Group and has locations in major metropolitan areas nationwide. Client interest was a primary factor in bringing Elder Services to the area, said Don Romano, regional manager for Wells Fargo Wealth Management Group in Tucson and greater Arizona.

"As individuals age, wealth management issues, personal matters and life needs can increase in complexity," he added. "Our integrated service can address these changing requirements, which helps give our clients and their families peace of mind."

Wells Fargo's approach to Elder Services represents a major shift from that of traditional financial services providers. Wells Fargo trust officers take a more proactive, holistic approach to working with clients. The relationship begins with an asset and estate planning review. Elder Services staff members work closely with the client's attorney to address estate planning concerns.

An assessment of the client's current status, which gauges the safety of the home, physical and emotional health, current support system and social needs also is conducted. Working with health care providers and other partners, Elder Services can make adjustments as needed (examples include locating a home health provider, hiring a weekly cleaning service and arranging for home improvements, such as reinforcing handrails on stairways).

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