Wells Fargo has launched a new feature in its app to help users “align goals with their money”.

The bank’s LifeSync feature provides real-time progress on users’ goals and tracks key “vitals” including net worth, portfolio performance, market indices, FICO scores, and credit card reward balances.

Through its ‘Your Feed’ feature, the bank said that LifeSync also serves as a connection to a client’s financial advisor as goals or life events change and evolve.

Michael Liersch, head of WIM Advice and Planning at Wells Fargo says that LifeSync addresses what its customers have requested from the bank.

“They want to see their goals and how they’re progressing toward them,” he explained. “They want to understand what’s influencing their goals — both market events and their own actions. And they want content that can help them as they move towards those goals.”

The launch of LifeSync follows a recent study by Wells Fargo, which found that large majorities of respondents reported they prefer digital modes of handling most of their financial matters, including their investment transactions.

The study showed that 80 per cent of Gen Z users and 79 per cent of Millennial investors reported feeling comfortable using their mobile devices for investing.

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