Wells Fargo Expands Advice and Planning, LifeSync® Access to All Consumer Customers

Strategic expansion to provide more customers personalized, digital goal-setting experiences

Wells Fargo & Company announced today the expanded availability of LifeSync®, a personalized digital approach to aligning customers’ goals with their money, to all consumer customers. Available in the Wells Fargo Mobile® app, LifeSync launched to all Wealth & Investment Management (WIM) clients earlier this year. This expansion comes in conjunction with a pivotal move for WIM’s Advice and Planning group, which will now be an enterprisewide Center of Excellence, providing more customer segments with tailored solutions.

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LifeSync is now available to all consumer customers. (Photo: Wells Fargo)

“Expanding availability of LifeSync to our consumer customers is the first proof point in Wells Fargo’s strategic delivery of digital-first, personalized financial advice and planning offerings,” said Michael Liersch, head of Advice and Planning at Wells Fargo. “Since it launched earlier this year, LifeSync has delivered on its promise to enable WIM clients to more easily share their goals with their advisor, see how they’re progressing toward them in real-time, and deliver relevant content and context to better understand what’s influencing those goals. We are thrilled to expand the LifeSync experience to millions of consumer customers this fall.”

Through an intuitive digital experience, LifeSync can provide real-time progress on goals and track key information — including their full Wells Fargo account summary, FICO® scores, market indexes, and credit card reward balances. Timely and relevant Wells Fargo content is delivered through its “Newsfeed” feature as goals or life events change and evolve.

LifeSync will be fully integrated with a customer’s branch experience, providing the option to create a multichannel experience through both digital and banker touchpoints. Customers can choose to either have a goals conversation with a banker and then track those goals in LifeSync, or articulate their goals in LifeSync first and then follow up with a banker.

As recently uncovered in Logica Research’s Future of Money study, Americans report needing more help with financial decisions than ever, with Gen Z having the highest percentage of respondents indicating a desire to obtain financial advice, especially around managing their money during uncertain economic times. The consumer customer availability of LifeSync further supports Wells Fargo’s digital strategy to provide customers with an intuitive banking journey that meets their individual financial needs.

“Since redesigning our mobile app, including launching new features like our Fargo™ ¹ virtual assistant, customer satisfaction and usage are growing exponentially,” said Michelle Moore, head of Consumer and Wealth & Investment Management Digital at Wells Fargo. “This expanded availability of LifeSync builds on that momentum by providing meaningful money guidance to help our customers feel supported in reaching their financial goals.”

Today’s announcement marks a continuation of Wells Fargo’s holistic digital transformation, as signified by the rollout of Fargo, its new virtual assistant, including Fargo in Spanish. ² These enhanced digital capabilities represent the bank’s multiyear plan to become digital-first and reinvent personal finance.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 47 on Fortune’s 2023 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy.

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Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo

Cautionary Statement about Forward-Looking Statements

This news release contains forward-looking statements about our future financial performance and business. Because forward-looking statements are based on our current expectations and assumptions regarding the future, they are subject to inherent risks and uncertainties. Do not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the “Forward-Looking Statements” discussion in Wells Fargo’s most recent Quarterly Report on Form 10-Q as well as to Wells Fargo’s other reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2018, available on its website at www.sec.gov.

News Release Category: WF-IT

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