NEW YORK -- Virtuoso introduced Wanderlist, a tool that
enables travel advisers and their clients to create a roadmap of future travels
via an online interface that determines the clients' preferred destinations and
Virtuoso unveiled the tool during a media briefing at its
offices here on Tuesday.
"A bucket list is a list of things you want to do
before you die," CEO Matthew Upchurch said. "Virtuoso Wanderlist is a
list of things about how you want to live, how you want to enjoy life."
Wanderlist is a standalone tool that advisers pay Virtuoso
to use. Virtuoso is not disclosing the price, but Upchurch said advisers are
passing the cost on to clients, selling the tool and the travel map it creates
alongside consultative hours with the adviser.
Wanderlist is the first Virtuoso-created product that
carriers a per-consumer cost, according to the CEO.
Advisers send consumers a link to the Wanderlist tool online.
Every member of a traveling group is encouraged to use it to determine their
top destinations and experiences. Upchurch described it as Netflix-like in
appearance -- consumers can give a destination or category (like food and wine,
further broken into subsets like chocolate or craft beer) a thumbs up, thumbs
down or question mark.
That curates a list of preferred destinations and
experiences for the entire party. The list is used to map out their upcoming
years of travel.
"We've realized that one of the ways we can help people
be better is to help them think, to make it more fun, be more conscious and a
little bit more structured on how to plan into the future," Upchurch said.
The tool has been in development for two years, and a
six-month beta test just wrapped up. During the test period, Upchurch said, the
youngest traveler to use the platform was 6 years old, and the oldest, 86.
In addition to getting their travel map and consultation
with a Virtuoso adviser, Upchurch said clients can purchase a coffee table book
with their curated travel map.
The adviser gets a dashboard to view all the data collected
from clients. Using the tool isn't as simple as flipping a switch, the CEO
said, noting agents will need to be trained to use Wanderlist.
Upchurch said Virtuoso will market the product in a variety
of ways. For instance, Virtuoso has a relationship with Merrill Lynch, and
plans market the product to consumers who already value a relationship with a
financial adviser. It's essentially "piggy-backing" on a set of
values those consumers already have, Upchurch said.