Although we made the difficult decision to cancel this year’s Envestnet Advisor Summit, we felt a responsibility to find a way to deliver that experience, with advice, technology, data, insights, and expertise from across the industry. Available online immediately, Advisor Summit On-Demand features:

  • Keynote sessions from Envestnet’s Bill Crager, Brinker Capital’s Dr. Daniel Crosby, and BlackRock’s Larry Fink.
  • Ten CFP® and CIMA® approved sessions for continuing education credits.
  • Technology demos from both Envestnet and our partners, allowing advisors to see the impact these enhancements can have on their practices.

The interview below features Frank Coates, Executive Managing Director, and Todd Buck, Managing Director, Envestnet | Analytics. Don’t miss Frank’s presentation, “Envestnet Analytics – WTF: Where to Focus.” You’ll can additional presentations from the Analytics team here and here.

Advisor Summit On-Demand is an all-new experience. What are your thoughts on the digital event?

Nothing can replace the warm feelings we give and receive at the in-person Advisor Summit. However, Advisor Summit On-Demand gives us the opportunity to share insights and provide education virtually, which is really great. These last few months have proven that we can still be very effective in collaborating in this new environment. We’re excited to have the opportunity to come together as a community to learn, share, and connect. People will still get great value from this experience.

Why should someone watch Frank’s presentation?

For many years now, advisors have had access to valuable insights through analytics services. This gives them a lot of information, but we’ve found that they aren’t always sure how to sift through it to figure out where to focus their time. Frank will share two simple frameworks that advisors can use to focus on what’s important, helping them increase client revenue and loyalty, as well as the value of their business.

What do the other Analytics presentations cover?

We have two 20+ minute presentations. These will cover two product offerings: Advisor Analytics and RIA Analytics.

We know that advisors are busy, and we know that data can be overwhelming. Rather than inundating advisors with more information, we are listening to their plea to boil it down and tell them what the data is saying.

Our goal is to make it easier for advisors to understand where their next opportunities lie. We want to make it easier for them to take action with minimal effort, and we plan to demonstrate how that’s possible through our newest tools. We will distill what we have seen in the data into clear, specific, prescribed actions.

What key takeaways should someone expect to learn?

We want to explain the value of our tools, which are set up a little differently but strive to give the advisor or RIA the ability to do three key things: Go deep to understand key business metrics and client behaviors, compare themselves to peers, and ultimately turn this information into actions that will lead to better client outcomes. We’ll talk about how advisors can identify the opportunities they have based on what we are seeing in their data, with regard to their clients, investments, and business. For attendees who want to learn how to get more ROI from their data, we consider ours to be can’t-miss presentations!

If you could offer one piece of advice for advisors, what would it be?

Don’t take personal contact for granted. We believe customers need human interaction to feel financially well. Work harder to stay in touch with clients, now more than ever.

If you could offer one piece of advice for investors, what would it be?

The first piece of advice is simple: Don’t wait to put together a financial plan. Aside from that, we’d say that investors should push their advisors to embrace tools and offer new services, like asset protection and lending, to get more value out of the relationship.

Do you have any thoughts on what 2020 might hold for the WealthTech industry?

We predict a lot of industry consolidation in 2020, particularly as advisors sell their businesses and/or retire. We believe that the tough market environment will shake out marginal business operators, and that the advisors with good business models, who appropriately leverage technology, will survive the consolidation, scale, and flourish.

You can view Frank’s session—and many others— now by visiting the 2020 Advisor Summit On-Demand site!

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.

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