Willful has landed a partnership with the Canadian Imperial Bank of Commerce.
The Toronto-based fintech startup provides an online platform for will creation, which recently attracted the interest of CIBC.
“Canadians want simple online financial solutions to help them manage their finances today and plan for the future,” explains David Attard, Senior Vice-President, Digital Banking and Enablement, Personal and Business Banking, CIBC. “Working with Willful enables our clients to have the peace-of-mind that comes with having a will and plan for their estate.”
Research from CIBC shows that cost and convenience are important factors for many Canadians who have yet to create a will. More than half of Canadians have no legal will, and among them, a majority believe online will creation would be a convenient option.
“With this new collaboration, we’re encouraging clients to have important conversations and get these vital documents in place, leveraging the convenience of digital to make it as easy as possible,” says Attard.
The CIBC collaboration with Willful provides online banking clients who have non-complex will requirements the ability to create a will starting at $79 and in as little as 20 minutes via Willful’s platform. Clients can also create power of attorney documents in case of emergency, compile a list of their assets, and record their funeral and burial wishes.
“We spend our lives trying to grow our wealth, but we don’t always plan for how our assets should pass on to our loved ones,” says Erin Bury, Founder and CEO, Willful. “Will and estate planning often provide peace of mind. Getting these important end of life financial decisions out of the way can dramatically ease the burden on loved ones.”
Founded in October 2017, Willful is currently available in most provinces in Canada.