RICHMOND, Va., March 29, 2021 /PRNewswire/ -- Envestnet |
MoneyGuide announced the launch of two new blocks – the Spend vs.
Borrow Block and the Mortgage Refinance Block – in its
MyBlocksSM series.
"Given the current interest-rate environment, many Americans are
wondering whether now might be a good time to refinance," said
Tony Leal, President of Envestnet
| MoneyGuide. "Also top of mind are thoughts such as: 'What is
the best way to spend my latest stimulus check? Is it better to pay
down debt, or invest the extra cash?' The timing is just right for
our latest blocks to further enhance these types of meaningful
conversations that advisors are having with clients."
The MyBlocks series breaks down complex financial topics and
questions and also offers side-by-side comparisons of different
potential outcomes. With the launch of these new blocks, this
innovative ecosystem now includes 35 bite-sized, interactive
modules that empower advisors to have more impactful conversations
with clients about their goals, financial plans and how to move
toward financial wellness.
Spend vs. Borrow Block:
- Guides clients to make a better-informed decision between
liquidating assets and taking out a loan to pay for a specific
goal.
- Within the block, users can easily create multiple
scenarios—which take into consideration loan options based on
current interest rates and credit scores, as well as financial
assets—on purchases under consideration such as a car, home
improvement project, and a vacation.
- Can open up opportunities for advisors to provide a loan
referral and keep managed money with the firm, as opposed to having
it liquidated. Firms can embed their product solutions into the
block.
Mortgage Refinance Block:
- Helps the client determine if refinancing current mortgage debt
at current interest rates would be beneficial and free up extra
money.
- Digitally engages and "walks" the client through the thought
process.
- Can lead to new lending opportunities.
"We believe holistic advice and planning are the
keys to helping clients achieve financial wellness,"
said Mr. Leal. "Debt and credit strategies can make or
break a financial plan. Given this, Envestnet
Analytics has a tool accessible by advisors in
MoneyGuide to quickly identify possible lending
opportunities for their planning clients. This is a
growing trend that we're excited to stay in front of as we build
more product-aligned blocks throughout 2021."
For more information on the Spend vs. Borrow Block and the
Mortgage Refinance Block, interested parties can attend a webinar
on Thursday, April 1, at 2:00 PM EST, by signing up here.
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 5,100 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