Shared financial planning and visibility for FAMILIES

in THE U.S.
of households do not have 
a written financial plan.
Source: Charles schwab
potential annual market for joint financial planning
Financial services have traditionally been directed at a single consumer, rather than orienting around couples or families. When one person owns finances for a household and the other doesn’t have the same visibility or understanding, it can be hard to navigate emergencies and life changes. There’s a big  opportunity to build products and services that support the fact that finances are a family affair.
there are
Caregivers with a spouse in the U.S. where shared Financial literacy would BENEFIT THEM AND THEIR BANKS.
What if reframing financial planning around joint ownership offers banks an opportunity to build greater loyalty, more tailored offerings, and better continuity amongst families? Shared financial planning can help households get on the same page to manage today and prepare for what’s next—whether around raising children, retirement, or other moments that matter.

let's build…

Financial tools with shared visibility and planning services for future care needs.

Key features

  • Enabling multiple account holders allows families to share and plan all in one place.
  • Summarized information on cash flows, investments, and monthly bills make it easy for everyone to have an up-to-date financial picture.
  • Future planning scenarios help families manage changes together. These could include childcare and education costs, retirement and aging-related expenses, health changes and more.
  • An AI-enabled chat feature can facilitate dialogue around planning and keeps information customized to each families unique needs.


  • When tested with consumers, “shared financial planning and visibility for couples” has a potential annual financial opportunity of $7-24B.
  • This market opportunity is driven primarily by increasing customer value, as ~3-9M caregivers with a spouse would buy other products from a financial services organization that offers “shared financial planning and visibility for couples” product.
  • An additional ~1-4M caregivers with a spouse would switch from their current financial service provider to one that offers this new “shared financial planning and visibility for couples” product.
of caregivers with 
spouses reported that “shared financial planning and visibility for couples” would be useful.
Source: 5,000-person consumer survey, based on this description.

what we heard

Overall, caregivers with spouses report that “shared financial planning and visibility for couples” would be helpful to them and the people they care for. Tailoring this product around key life events (e.g., those expecting a child were 2x more likely to find this offering most useful than those who aren’t expecting) can result in an even better customer acquisition and customer lifetime value.

Other key life moments could be in the event of a divorce, parents moving back into their adult child’s home, switching jobs, or planning for retirement.

Caregiver type who said they would definitely find “shared financial planning and visibility for couples” useful
Source: 5,000-person consumer survey, June 2023
"We would like the ability to see what our financial stability looks like all in one place.  As it is, we have to go to several websites to gather all the information, including savings accounts, IRAs, and income streams.”
deborah, 71
Retired, fearful about the future and organizing her finances
“Very appealing. I use a notebook to document all of this data so my husband and sons will have all of the information in one place.  I handle the finances, so it is important to me that this information is documented for them.  Using a service to capture this type of information would be great.”
Maryanne, 61
Hoping to age in place, but unsure if she has the resources for it

how to get started

Financial planning and management is an activity that impacts the whole family. Some of the biggest barriers to overcome in this joint offer is tackling current partner dynamics of letting a single individual take on the responsibility of financial planning, or administrative duties of remembering and tracking account details or logins. Families are looking for a joint solution, and keeping a few key principles in mind can ensure a successful product-market fit.


Invest in progressive onboarding and information integration.
Pilot this service with progressive onboarding - getting users to slowly input their logins and account details overtime to not overwhelm them all at once. Invest in linking existing accounts and credit, so that users easily have a clear and updated picture of their finances.
Set up a simple chat feature powered by financial advisors.
Monitor couples’ finances, address questions, and share financial insights. Collect feedback on the function, and if it is popular, invest in the AI technology to build the service for mass adoption after the concept has been refined.
Experiment with marketing messages and target markets.
Test the positioning with different customer types (e.g., unequal financial knowledge, joint ownership) to make sure that the messaging and overall service to create value for all family members.

Download the full consumer finance fact pack including the financial planning concept and the data that supports it below.

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Fact Pack

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