To prospect, onboard, and engage clientsMyBlocks is a revolutionary, digital client engagement tool that is transforming not only the way advisors motivate clients to achieve financial wellness, but also how advisors define advice. Visit here for details.
Jul 23, 2019 — POWHATAN, Va., July 23, 2019 /PRNewswire/ — Envestnet MoneyGuide, creator of the industry’s leading financial planning software platform, today announced the enhanced release of MyBlocks, an innovative new digital client engagement tool. MyBlocks facilitates incremental financial decisions through a captivating user interface where key financial wellness topics such as: social security, retirement compatibility, college loan debt, and building an emergency fund are broken up into bite-size “blocks.” MyBlocks is a separate product offering outside of the firm’s MoneyGuide suite.
Applicable to all financial professionals, MyBlocks allows advisors to engage prospects and clients of all ages and financial backgrounds. “We wanted to create a familiar user experience to break down client and advisor inhibitions toward financial planning,” said Tony Leal, President of Envestnet MoneyGuide. “MyBlocks is designed to feel like a consumer technology interface. It paves the way for an entirely new approach to financial discussions, where clients are in control to explore various financial topics of their choosing, while the advisor provides advice and solutions to their concerns.”
A Digital Marketing Tool to Accelerate the Path from Prospect to Client
- Newly released, self-registration feature – equips advisors with a custom link to reach prospects more efficiently in their digital marketing efforts. The link serves as a prospect engagement and lead generation tool for advisors to use on their websites, in email campaigns or on social media channels; and can be used to promote as an additional service offering for existing clients.
- Integrated data aggregation with Envestnet | Yodlee – now including a suite of Yodlee FinApps, which allow for linking accounts, viewing a summary of accounts, reviewing transactions, budgeting, and analyzing expenses. For those advisors with MoneyGuide subscriptions, this data will import into a full financial plan, eliminating the need to request paper statements.
- Enhanced prospecting feature with Redtail CRM – prospects who go through MyBlocks self-registration will be imported into Redtail as a new prospect and/or household. Prospects will appear under opportunities and notifications can be created in Redtail to notify the advisor when a new prospect has been added. Prospect workflows and activities can also be set up within Redtail for MyBlocks prospects.
“With MyBlocks, we have taken the guess work out of how to engage investors. We’ve created a familiar experience, delivering an incredibly broad range of valuable financial answers that investors deserve,” said Kevin Hughes, Chief Growth Officer of Envestnet MoneyGuide. “The use cases for financial professionals to get value out of each block is quite vast, my personal favorites are with prospecting, working with extended family and complimenting their incredible story telling skills.”
The MyBlocks Ecosystem
Twenty-one blocks are currently available with more being developed every month. Each block is grouped by topic, such as:
- Protect Your Family: life insurance and long-term care
- Explore Retirement Topics: social security, health care, and longevity
- Have Some Fun: retirement compatibility game and an inflation quiz
- FastPath to Freedom: credit card debt, college loan debt, retirement savings, building an emergency fund and, saving for an experience or financial goal
Blocks addressing long-term care analysis, income protection, and financial goals and concerns, are scheduled to be released later this quarter.
“MyBlocks is the most significant innovation in the financial planning space since the launch of MoneyGuidePro nearly 20 years ago,” said Joel Bruckenstein, financial services FinTech expert. “Because they are quick and easy to use, and because they can be incorporated into a collaborative, or even a self-service model, blocks open up financial planning to a new audience that was previously priced out of the market. MyBlocks can address the needs of those just starting out on their financial journey, as well as those preparing to retire or already retired.”
MyBlocks integrates with all current configurations of MoneyGuide financial planning software, including MoneyGuideOne, MoneyGuidePro®, and MoneyGuideElite. Additional blocks and integrations will be rolled out throughout 2019 and continue into 2020. For a limited time, new users who purchase MyBlocks will receive free aggregation with Yodlee, if purchased before September 30, 2019.
For more information on MyBlocks, interested parties can attend a webinar on Thursday, July 30, at 4:00 PM ET, by signing up here.
For more information on Envestnet MoneyGuide, or to learn more about its suite of products, visit www.moneyguidepro.com.
About Envestnet MoneyGuide
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 Solutions 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 independent 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 96,000 advisors and more than 3,800 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.