The COVID-19 pandemic has had a swift impact on investor preferences and expectations, and, in turn, what advisors need to do to provide value and sustain their practices. The sudden loss of jobs, healthcare, childcare, and routine has led many Americans to consider their financial planning needs, revisit their existing plans or create one for the first time.1 They want to know what they should do, unique to their own situations, and you need to be prepared to help.
Envestnet | MoneyGuide, the industry’s leading financial planning software provider, is already available to help its users build plans based on their clients’ goals, concerns, needs, and wishes, which, for many, are related to protecting their assets and saving enough for retirement.2 Now, through the combination of Envestnet | MoneyGuide and FIDx, the innovative technology that powers the Envestnet Insurance Exchange, you can seamlessly incorporate annuities within a financial plan to help your clients address their income and protection needs.
This seamless integration—the first of its kind—provides the ability to plan, research, propose, and manage annuities alongside traditional investment products through the MoneyGuide software. It also offers a more holistic view into your clients’ finances, giving you the opportunity to find and address shortfalls or gaps in clients’ retirement income plans and initiate critical conversations.
The integration offers benefits for both your practice and your clients:
- With single sign-on from MoneyGuide to FIDx, you can easily access a range of commission- and fee-based annuities from industry-leading insurance carriers to offer the best options for your clients’ circumstances.
- You can compare and propose the sale of an annuity contract within a financial plan, saving time by eliminating the manual process.
- You can leverage a comprehensive view of a client’s financial picture from pre-sale to post-sale, including consolidated reporting.
- The digital experience can improve efficiency and the overall client experience.
To learn more about how creating customized financial plans that include income and protection strategies can help support the growth of your practice and provide added value for your clients, contact your Relationship Manager.
- “Planning & Progress Study 2020,” NorthWesternMutual.com, last accessed on August 20, 2020, https://news.northwesternmutual.com/planning-and-progress-2020.
- “Pulse Survey: The Impact of COVID-19 On CFP Professionals And Their Clients,” CFP Board, last modified on April 21, 2020, https://www.cfp.net/-/media/files/cfp-board/knowledge/reports-and-research/certificant-surveys/2020-04-cfp-professionals-pulse-survey-report.pdf.
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.