Why Advisors Should Care About the Stories Behind the Assets

When Estate Planning Becomes Relationship Planning: What Advisors Can Learn from Trusty

Financial advisors often talk about assets under management, but the real long-term question is whether they understand the people behind those assets. Randy Frisch, CEO of Trusty, argues that the industry has spent too much time focusing on documents and too little time capturing the stories, wishes, and non-traditional assets that actually shape a family’s legacy.

That idea matters more than ever as wealth moves across generations and clients expect a more personal experience. At Future Proof Citywide in Miami, Frisch made the case that advisors who help families organize the full picture of their lives will be better positioned to deepen relationships, improve retention, and create more meaningful conversations with both clients and heirs.

Why the estate conversation is changing

Frisch’s starting point was not a spreadsheet or a legal brief. It was a very human problem: a drawer full of appraisals, certificates, and sentimental items that had no clear place in a standard estate plan. That experience, combined with handling his grandmother’s belongings after her passing, showed him how much of a family’s story sits outside the will.

Many client households may look organized on paper while still being unprepared in practice. As Frisch put it, “wills don’t tell the whole story of a family’s wealth and wishes.” The opportunity is not simply to review documents once a year, but to help clients think through what should happen to the things that matter most.

That can become a meaningful relationship-building opening. When clients feel understood beyond balances and beneficiaries, conversations become richer, more honest, and more durable over time. In high-net-worth households, where tangible assets, heirlooms, and emotionally charged decisions can create friction, that fuller understanding can make the planning process more personal and more practical.

The practical value for advisors

Frisch said many families recognize the need to get organized, but the work itself can feel too big to begin. The paperwork is only part of it. Clients are also trying to sort through personal property, family dynamics, sentimental wishes, and decisions they may have avoided for years.

That is where the advisor’s role can expand without crossing into legal advice. Frisch noted that attorneys and estate planners often “don’t have the means to help you organize your home, or detail out wishes, or get sentimental with you.” A better process gives the advisor a way to guide the conversation while keeping the client’s own story at the center.

That can make the planning experience feel less like an administrative chore and more like a continuation of the wealth relationship. The more an advisor understands family dynamics, non-financial assets, and intent, the more relevant the advice can become. It may also help reduce confusion later, especially when incomplete planning leaves heirs to interpret decisions that were never fully explained.

Where AI actually helps

While Future Proof Citywide was largely focused on AI, Frisch was careful to separate practical use cases from the hype. “The AI hype is real and it’s adapting monthly,” he said, but the real question for families is much simpler: “How do you make my life easier on a day-to-day basis?”

In estate and legacy planning, that can start with something as basic as reducing manual data entry. Frisch gave the example of a client taking a photo of jewelry, art, or another valuable item and using AI to help fill in the details. By removing that friction early, the process is less likely to stall before families capture the information their advisors, heirs, or executors may eventually need.

Frisch also talked about building a “knowledge base” for each family, one that can be searched and used over time. The goal is not just to store more data. It is to help advisors understand clients more fully, “almost in the same way your actual family knows about you.” That suggests a more responsive planning relationship, where life events, outdated documents, missing wishes, and other needs are easier to identify before a client has to raise a hand.

The advisor’s role in trust

Frisch was clear that Trusty is not trying to replace attorneys or will providers. The opportunity is to serve as connective tissue between the family and the advisor, making the planning experience more collaborative without pulling the advisor out of position.

He described the advisor’s job as “nudging you along,” not doing all the work for the client. Clients still need to tell the story behind their wishes, but advisors can help identify the next step, whether that is updating a will, naming an executor, or revisiting documents that no longer reflect the family’s reality.

That is where trust can deepen. When the planning process becomes more conversational and less transactional, clients are more likely to share the personal details behind the plan. Those conversations can support stronger retention, better referrals, and a more complete understanding of the household.

Making the digital record tangible

Trusty’s physical estate binder grew out of a practical concern Frisch heard from users. Even people who are comfortable with technology still wonder, “Should I really be putting all of this in an app?” As he put it, families ask reasonable questions: “Will there be an app 15 years from now when I’m 80?”

The binder is meant to answer that concern without giving up the convenience of the digital record. Frisch described it as a way to take the information captured in the app and turn it into something families can “physically hold” and “pass around” with an advisor or the next generation. In a category built around trust, permanence, and family communication, that tangible output can make the process feel more real.

This hybrid approach is a reminder that tech adoption in wealth management does not always need to be all or nothing. Sometimes the best solution is the one that meets clients where they are, especially on emotionally sensitive topics. A process that feels approachable is more likely to be completed.

Starting the legacy conversation earlier

Advisors do not need to wait for a formal estate planning trigger to make this conversation more useful. Frisch said clients are often looking for “an opportunity to be more open” with their advisor, especially when the relationship has drifted into routine portfolio reviews and performance updates.

That opening can start with a simple question: what is still missing outside the formal estate documents? The answer might include collectibles, jewelry, art, family heirlooms, passwords, sentimental instructions, or succession wishes that have never been documented. Once those details are visible, the advisor can help turn them into part of an ongoing review process rather than a one-time cleanup project.

The deeper value is not just organization. It is helping families package “ideas and realities and thoughts and wishes” in a way that gives both clients and the next generation more peace of mind. As wealth moves across generations, advisors who understand the full family story may be in a stronger position to protect the relationship, not just the plan.

To learn more about Trusty and how it is helping families and advisors bring clarity to legacy planning, visit Trusty’s website.