Wells Fargo Private Bank Extends Elder Services Program to East Coast

Provides Unique Wealth and Life Management Services for Clients from Florida to Connecticut

SAN FRANCISCO--()--Wells Fargo Private Bank, a business within Wells Fargo & Co. (NYSE:WFC), has expanded its Elder Services program to the East Coast. The program is a premium wealth and life management solution of Wells Fargo Private Bank. It combines wealth management services with life management assistance to help aging adults with everything from loss of a spouse to mobility and health challenges as well as investment management, ultimately helping clients maintain their independence and quality of life.

“Over the next 20 years, the U.S. population is expected to grow by 18 percent, while the elderly population is projected to see 78 percent growth. We are now positioned to help serve clients from coast to coast as these needs increase,” said Keith Klovee-Smith, national manager of Wells Fargo Elder Services. “Seniors often live far from relatives, and even when they’re close by, relatives may find personal and financial management challenging. We expect the need for Elder Services to triple over the next two decades, which makes our presence in the East so crucial. We are committed to serving our clients in all stages of their lives.”

The Elder Services program can help clients with everything from paying bills, finding in-home help and monitoring health issues to managing commercial real estate in conjunction with our Real Estate and Specialty Asset groups. Specialists take a holistic and proactive approach to working with clients as they navigate the complexities of life management that come with aging.

“Specialists help clients in building out systems of support both within the bank and externally in the community,” added Klovee-Smith. “We have a strict due diligence process with outside partners. We want to create a safety net for our clients consistent with their needs and preferences. To this end, we provide a health and wellness assessment, medical claims processing and assistance with personal income taxes as part of all of the other assistance given.”

Wells Fargo established the Elder Services program in 1997 and has specialists in over 40 metropolitan areas across the country. The Private Bank has recently expanded Elder Services to Wells Fargo Private Bank offices in Connecticut, Delaware, Florida, North Carolina, Pennsylvania, South Carolina, Southern New Jersey, Virginia and Washington, D.C. Plans currently are underway to add coverage throughout the East as needs arise.

Unique Benefits of Elder Services

Elder Services specialists work closely with their clients’ outside attorneys, accountants, insurance specialists, and healthcare providers to coordinate financial and life management services for their clients.

The Elder Services relationship team also works with the client to establish a schedule for regular check-ins to address their changing needs.

“Aging adults are often targets for physical, emotional and financial abuse, making the team’s regular check-in calls and visits a significant benefit to clients,” Klovee-Smith said.

The program also benefits clients’ children, offering continuous, in-person support and keeping family members updated according to the client’s wishes. Wells Fargo helps clients and family members resolve sensitive issues, such as giving up drivers’ licenses, moving into retirement homes, or planning funerals.

“Aging individuals do not want someone to take over their lives, but they do require a different type of help,” Klovee-Smith said. “Our integrated service can address these changing requirements, helping to achieve the goals and needs of our clients and their families.”

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 banking stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. (7/21/10)

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Wells Fargo Private Bank provides products and services through Wells Fargo Bank, N.A. its various affiliates and subsidiaries.

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Wells Fargo Private Bank
Vince Scanlon, 336-732-6387



Wells Fargo Private Bank
Vince Scanlon, 336-732-6387