Fabric Technologies
Fabric provides a digital platform that consolidates term life insurance, investment accounts for children, and will creation into a single user-friendly interface. This approach simplifies financial planning for families, ensuring they can easily secure their financial future and manage essential documents in one place.
- Applications
- Financial Technology
- Software Only
Funding
Funding not disclosed
Founders
Founder details are not available yet.
Product
Problem
Securing financial futures for families often involves navigating multiple complex products and platforms, leading to confusion and inefficiency. Parents need a simplified way to manage life insurance, investments for their children, and essential legal documents like wills.
Solution
Fabric by Gerber Life provides a unified digital platform designed to simplify financial planning for families. The platform consolidates term life insurance, kids’ investment accounts (UGMA), and will creation into a single, user-friendly interface. Fabric acts as a solicitor for its affiliate, W&S Advisory Services, LLC, a registered investment adviser, which serves as the investment manager to non-discretionary, separately managed, child investment accounts (UGMA Investment Account) under the Uniform Gifts to Minors Act. Custody, brokerage, and clearing services are provided by Apex Clearing Corporation, a registered broker-dealer and member FINRA/SIPC. Account funding and gifting is facilitated using the Dwolla, Inc. platform and technology.
Target Audience
The primary target audience includes parents and families seeking to simplify their financial planning, secure life insurance, invest in their children's future, and create essential legal documents.
Features
- Term life insurance policies with coverage up to $2,000,000 for 10, 20, or 30-year terms
- Kids’ investment accounts (UGMA) with Model Portfolios and options for recurring contributions
- Free will creation tool to legally document wishes for assets and name guardians for children
- Fabric Vault provides a secure way to share key account information with a spouse or partner
- Mobile application available on iOS and Android
- Integration with Dwolla for facilitating contributions to UGMA Investment Accounts