CHICAGO, IL – November 04, 2019Press Release
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 everyoneEnvestnet 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.
MyBlocks is a separate product offering that integrates with all current configurations of MoneyGuide financial planning software, including MoneyGuidePro®, MoneyGuideOne and MoneyGuideElite.
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