Canadian Life discloses an investment in the Montreal-based software startup, ClearEstate
In a move to make estate planning more accessible for Canadians, Canada Life, a renowned name in the financial services industry established in 1847, has entered into a strategic agreement with ClearEstate, a digital estate planning and settlement platform.
This partnership marks a significant step forward for both companies, as Canada Life invests equity in ClearEstate, demonstrating its commitment to innovative financial solutions. Under the agreement, Canada Life and its subsidiaries can refer clients, plan members, and employees to ClearEstate for end-to-end estate planning and settlement services.
ClearEstate's platform combines digital tools with human guidance, simplifying estate planning and settlement processes. This partnership aims to make these services more accessible through financial advisors and workplace benefits, aligning with Canada Life's goal of supporting Canadians' financial planning needs.
The growing demand for estate planning support is a key driver for this partnership. With Canada's average age skewing upward since the 70s, the services offered by firms like ClearEstate are in rising demand. The partnership addresses this demand, particularly in light of demographic trends such as Canada's aging population and intergenerational wealth transfers.
Davide Pisanu, CEO of ClearEstate, expressed his excitement about the strategic relationship, stating that it will help ClearEstate provide a valuable service to more people than ever before. Blaine Shewchuk, executive vice president of Individual Wealth at Canada Life, explained that the partnership aims to make ClearEstate's services more accessible to Canadians through financial advisors and workplace benefits.
ClearEstate, founded in 2020, is backed by notable investors including Diagram Ventures, OMERS Ventures, and NAventures. The company's digital services platform empowers users with clarity and confidence, enabling them to navigate complex estate planning processes with ease.
The partnership between Canada Life and ClearEstate validates ClearEstate's belief that estate planning should be accessible, proactive, and part of every Canadian's financial journey. Together, they are working towards a future where every family can face life's biggest transitions with support and clarity. The partnership aims to reshape the way Canadians approach estate planning, making it simple, transparent, and an integral part of their overall financial well-being.
The strategic agreement between Canada Life and ClearEstate signifies Canada Life's investment in technology-driven financial services, particularly in the realm of estate planning. This partnership seeks to offer profitable, innovative financial solutions to its clients, cementing its position in the dynamic business landscape.
