Envestnet | MoneyGuide Launches My Plan Builder, a Client-Facing On-ramp to Building a Financial Plan

Rhea-AI Summary

Envestnet | MoneyGuide launched My Plan Builder, a new tool within its MyBlocks^SM series, aimed at simplifying financial planning for advisors and clients. The tool consists of six essential blocks: Your Goals, Retirement Income, Investment Assets, Other Assets, Loss Tolerance, and Play Zone^®. Clients only need to provide basic information about their goals and assets to begin formulating a financial plan. This initiative is designed to enhance client engagement and streamline the initial planning process, ultimately promoting financial wellness.

Positive

• Launch of My Plan Builder simplifies financial planning for clients and advisors.
• Only minimal information required to initiate financial planning process.
• Enhances client engagement through easily digestible planning blocks.

Negative

• None.

RICHMOND, Va., Aug. 2, 2021 /PRNewswire/ -- Envestnet | MoneyGuide announced the launch of My Plan Builder, a new category of six blocks in its MyBlocks^SM series that can serve as an on-ramp to planning for advisors and their clients.

The new blocks within the category are named Your Goals, Retirement Income, Investment Assets, Other Assets, Loss Tolerance and Play Zone^®.

"These six blocks make up My Plan Builder, which is accessible to advisors and their clients from inside of the MyBlocks^SM universe," said Tony Leal, President of Envestnet | MoneyGuide. "The idea of a comprehensive financial plan can sometimes overwhelm clients, as there are many pieces to the puzzle. With My Plan Builder, we simplified the process of getting clients over the starting line. These engaging and easily digestible blocks ask for the basic info needed to help begin building a quality financial plan. They can then work with their advisor, who can take it over while leading clients to financial wellness."

Advisors who subscribe to MyBlocks^SM can share this new offering with clients. To get started, only a minimum amount of information is needed, such as ideal retirement age and where a client aspires to live in retirement. Advisors can also use the data collected within these blocks to update existing financial plans in MoneyGuide, for those clients who already have one.

While there are six blocks in total, clients only need to fill out the first three – Your Goals, Investment Assets and Loss Tolerance – to give their advisors what they need. Clients view their financial plan results in the Play Zone Block, which focuses on the planning factors that they can control to help ensure their financial future.

For more information on My Plan Builder, interested parties can attend a webinar on Thursday, August 5, at 2:00 PM EDT, by signing up here: https://attendee.gotowebinar.com/register/3651334496281092622

About Envestnet
Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 106,000 advisors across more than 5,200 companies—including 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies—leverage the Envestnet platform to grow their businesses and client relationships.

For more information on Envestnet | MoneyGuide, please visit www.moneyguidepro.com and follow us on Twitter at @ENVMoneyGuide or LinkedIn. 

Media Contact:
Dana Taormina
JConnelly for Envestnet
973.647.4626
envestnetpr@jconnelly.com

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SOURCE Envestnet | MoneyGuide

FAQ

What is My Plan Builder from Envestnet?

My Plan Builder is a new financial planning tool launched by Envestnet | MoneyGuide that simplifies the financial planning process for advisors and their clients.

When was My Plan Builder launched?

My Plan Builder was launched on August 2, 2021.

What are the features of My Plan Builder?

My Plan Builder includes six blocks: Your Goals, Retirement Income, Investment Assets, Other Assets, Loss Tolerance, and Play Zone.

How does My Plan Builder benefit financial advisors?

It provides a streamlined approach to starting financial plans, enabling advisors to engage clients effectively.

What is the significance of the Play Zone Block?

The Play Zone Block allows clients to view planning results and focus on controllable planning factors.