Estate planning fintech Trust & Will has reduced its workforce as part of a business restructuring, a company spokesperson confirmed in a July 2 email. The layoffs, which included product marketing manager Maya Powers after five years at the firm, were described as a “company-wide reduction” in a LinkedIn post by Powers. Trust & Will declined to disclose the number of affected employees; the firm had approximately 160 staff as of April 30, according to private-company research platform Tracxn.
“Last week, Trust & Will made the decision to restructure parts of the business. This wasn't performance-related; it reflects how quickly the estate planning and broader wealth tech category is evolving, particularly with AI reshaping where value sits in the space,” the spokesperson said. The company added that it is “concentrating resources on the areas that compound long-term value for our members” and remains “well-resourced and focused on long-term growth.”
Founded in 2017 by Cody Barbo, Daniel Goldstein, and Brian Lamb, San Diego-based Trust & Will has raised $75 million across multiple funding rounds from investors including UBS, Northwestern Mutual Future Ventures, Moderne Ventures, Amex Ventures, and SEI Ventures. In its $25 million Series C round announced in March 2025, the company said it would invest further in artificial intelligence, calling AI “fundamental to the future of estate planning.” CEO Cody Barbo stated at the time, “AI enables families and advisors to plan with greater clarity and confidence.”
Trust & Will reports more than one million users on its digital estate planning platform, accessed by over 26,000 financial advisors and supporting more than $300 billion in self-reported estate assets. The firm counts over 145 enterprise partners, including AARP, Fifth Third Bank, UBS, USAA, LPL Financial, and Northwestern Mutual. The company has also invested in high-profile marketing, such as a national TV commercial featuring NFL quarterback Matthew Stafford and Los Angeles Rams coach Sean McVay, as well as sponsorship deals with the National Women’s Soccer League’s San Diego Wave and the NHL’s Los Angeles Kings.
According to the 2026 T3/Inside Information Software Survey, Trust & Will holds a 6.64% market share among estate planning tools used by financial advisors, ranking fifth behind eMoney (14.42%), Wealth.com (13.73%), RightCapital (10.22%), and Holistiplan (9.94%). Competitors such as FP Alpha, EncorEstate Plans, Vanilla, and Envestnet Wealth Studios trail behind.
Research from Trust & Will underscores a persistent gap in estate planning: 55% of U.S. adults have no estate planning documents. The firm’s surveys found that will ownership dropped five percentage points from 31% in 2025 to 26% in 2026, while trust ownership increased three points. Notably, 30% of adults now trust AI more than a human attorney for estate planning guidance, up from 20% in 2025. In the company’s 2026 Financial Advisor Report, 68% of advised clients said they would consider switching to an advisor who offers estate planning services—a finding echoed in a Trust & Will survey.
Trust & Will currently lists two open roles on its careers page: a staff cloud engineer and a performance marketing manager. The job description for the marketing role emphasizes AI fluency, stating, “You'll also be expected to bring AI fluency to the work. We're a lean team, and the marketers who succeed here will use Claude, agentic workflows, automations, and prompt-based tooling to move faster, analyze deeper, and get more leverage out of every hour. This isn't a bonus, it's how we operate.”
The layoffs come amid broader industry shifts, as AI disruption fears have impacted other financial firms. For instance, LPL Financial shares dropped 21% in the first half of 2026 partly due to AI concerns. Meanwhile, a HSBC survey found that 57% of affluent investors use AI for research, but 59% still trust human advisors for final decisions.
