I recently had the honor of participating in a panel at the 2019 National Historically Black Colleges and Universities Week Conference, a White House initiative, along with Envestnet employees, Jim Seuffert and Nakiya McCarey. We spoke with young men and women eager to not only join our industry, but also to help their communities and learn more about financial wellness.

We shared Envestnet’s vision for making financial wellness available for everyone through our platform, but also by encouraging and empowering more young people to become financial advisors. 

It is estimated that 40 percent of existing advisors plan to retire within the next 10 years, and we’ll be faced with a shortage of much-needed expertise.1 To help address the need for an influx of advisors who can work with a range of communities, we launched Envestnet Institute on Campus (EIOC) in 2015, seeking to create a generation of financially literate and savvy graduates ready to join the industry. Ultimately, this new generation of advisors will be prepared to bring their knowledge back to their communities to enable more people than ever to benefit from financial advice. 

Our goal isn’t just to drive more students to enter the industry, build a more diverse workforce, or make advice more readily available, it’s also to teach a younger generation about the tools that are available to help them manage their wealth, even if they choose to not enter our field. We want to help people understand how to budget, how to pay back debt, and how to invest so that they can create savings, buy a home, and invest in their own communities.

This is a big vision. But, it’s a vision in service of creating a system that has the potential to bring balance and financial stability to everyone in America. Everyone deserves that.

We shared Envestnet’s vision for making financial wellness available for everyone through our platform, but also by encouraging and empowering more young people to become financial advisors.

It is estimated that 40 percent of existing advisors plan to retire within the next 10 years, and we’ll be faced with a shortage of much-needed expertise.1 To help address the need for an influx of advisors who can work with a range of communities, we launched Envestnet Institute on Campus (EIOC) in 2015, seeking to create a generation of financially literate and savvy graduates ready to join the industry. Ultimately, this new generation of advisors will be prepared to bring their knowledge back to their communities to enable more people than ever to benefit from financial advice.

Our goal isn’t just to drive more students to enter the industry, build a more diverse workforce, or make advice more readily available, it’s also to teach a younger generation about the tools that are available to help them manage their wealth, even if they choose to not enter our field. We want to help people understand how to budget, how to pay back debt, and how to invest so that they can create savings, buy a home, and invest in their own communities.

This is a big vision. But, it’s a vision in service of creating a system that has the potential to bring balance and financial stability to everyone in America. Everyone deserves that.

1. Lorie Konish, “As financial advisor shortage looms, college programs look to help fill the talent gap,” CNBC.com, last modified on May 21, 2019, https://www.cnbc.com/2019/05/21/as-financial-advisor-shortage-looms-colleges-look-to-fill-talent-gap.html.

The information, analysis and opinions expressed herein are for informational purposes only and do not necessarily reflect the views of Envestnet. These views reflect the judgment of the author as of the date of writing and are subject to change at any time without notice. Nothing contained in this piece is intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type.

Written by Bill Crager

As a co-founder and Chief Executive Officer of Envestnet, Bill Crager drives the development of our innovative financial wellness solutions and is responsible for the market growth of its comprehensive wealth management platform, which supports over 3,500 financial enterprises and more than 99,000 financial advisors, who collectively manage over $3.3T in assets.

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