Envestnet | MoneyGuide Introduces 5 Blocks, Powered by Yodlee Financial Data, With Plans for Tamarac Integration
Envestnet further enhances its unified advice platform to improve advisor-client engagement and help make financial wellness a reality for everyone
CHICAGO, Nov. 4, 2019 /PRNewswire/ -- Envestnet today announced it is adding five Yodlee FinApps to the MyBlocks™ client-engagement tool from MoneyGuide, giving advisors the ability to create an immersive digital experience as they work to help clients improve financial wellness. Like existing blocks, these new Yodlee-powered blocks feed account data into a MoneyGuide plan, delivering broader advice while removing administrative barriers and making engagement easy.
The five new blocks are now available to MoneyGuide customers who have a MyBlocks subscription and have licensed Yodlee data aggregation.
In addition, MyBlocks and the Yodlee apps available through MyBlocks are expected to be available to registered investment advisors (RIAs) using the Envestnet | Tamarac platform in 2020.
"Technology can make financial services more personal and impactful, increasing the value of each interaction and conversation," said Bill Crager, interim CEO, Envestnet. "We continue to push toward that goal by connecting and ultimately strengthening our industry-leading offerings. This is another step in our journey to create a unified advice network that allows advisors and their clients to build better financial futures."
MyBlocks facilitates planning and awareness through an interactive, client-facing interface where key topics such as social security and retirement compatibility are broken up into bite-size "blocks." With the integration of Yodlee FinApps, advisors can create a complete view of assets, insurance and other financial information. The platform allows advisors to engage a diverse range of clients, from all backgrounds, further supported by the new blocks, which include:
- AI Fincheck measures financial health with an AI-driven assistant that automates and improves daily management.
- Cash Flow Analysis tracks finances to evaluate and forecast future expenses and income.
- Investment Holdings provides a holistic view of a portfolio, allowing users to drill down into sectors and individual holdings.
- NetWorth Summary gives a situational snapshot with an aggregated view of assets and liabilities, which are continually updated.
- OK to Spend outlines cash-flow capabilities with visibility into financial obligations and future income.
"Get clients engaged faster and keep them engaged. That's the foundation of MyBlocks," said Tony Leal, president of Envestnet | MoneyGuide. "Combining the power of Yodlee financial data aggregation with these new blocks further accelerates the process. Plus, integrating with Tamarac will bring the same capabilities into a platform that RIAs know and trust for a seamless experience."
Envestnet announced the initial integration of MyBlocks and Yodlee FinApps in July 2019. Access to the MyBlocks-Yodlee pairing for Tamarac users is anticipated in 2020.
MyBlocks is a separate product offering that integrates with all current configurations of MoneyGuide financial planning software, including MoneyGuidePro®, MoneyGuideOne and MoneyGuideElite.
Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet's unified technology empowers enterprises and advisors to more fully understand their clients and deliver actionable intelligence that drives better outcomes and improves lives.
Envestnet Wealth enables enterprises and advisors to better manage client outcomes and strengthen their practices through its leading Wealth Management Operating System and advanced portfolio solutions. Envestnet | Tamarac provides portfolio management, reporting, trading, rebalancing and client portal solutions for registered investment advisers (RIAs). Envestnet MoneyGuide provides goals-based financial planning applications. Envestnet Data & Analytics enables innovation and insights through its Envestnet | Yodlee data aggregation platform.
More than 99,000 advisors and more than 4,100 companies including: 17 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.
For more information, visit www.envestnet.com and follow the company on Twitter @ENVintel.
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Released November 4, 2019