“Tell me and I forget, teach me and I may remember, involve me and I learn.” While the source of this quote is not certain, the wisdom within it cannot be denied. From our experience, it’s especially true when it comes to the relationships between clients and financial advisors.

This comes to mind given that April is “Financial Literacy Month,” when schools and organizations across the country carry out initiatives designed to promote financial wellness through education. This is the same idea behind Envestnet | MoneyGuide’s MyBlocks solution.

The MyBlocks series breaks down complex financial topics and questions and also offers side-by-side comparisons of different potential outcomes. These interactive modules can help clients get “under the hood” of their own finances to discover many ways to improve their overall financial health.

An interactive financial planning tool, advisors can leverage MyBlocks to help clients visualize their finances, get a pulse check for where they are today, and provide actionable steps to help them achieve their financial goals.

These “aha” moments can make an incredible impact on the financial lives of clients. Just as building blocks can play a major role in early childhood education, MyBlocks are fun, simple, and engaging – and the lessons they instill are invaluable. Clients often gain these new personal finance insights without even realizing that they are “learning.”

MoneyGuide recently launched its two newest blocks in the series: the Spend vs. Borrow Block and the Mortgage Refinance Block. The Spend vs. Borrow Block, which comes amid a persistent low interest rate environment, guides clients to make a better-informed decision between liquidating assets and taking out a loan to pay for a specific goal.

This 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 even embed their product solutions into the block.)

The Mortgage Refinance Block is also based on a very timely topic, as it can help clients determine if refinancing current mortgage debt at current interest rates would be beneficial and free up extra money.

With these latest launches, this innovative ecosystem now includes 35 bite-sized digital sessions that empower advisors to have more impactful conversations with clients about their goals, financial plans, and how to move toward financial wellness.

Here are some other examples of educational content available through the MyBlocks series, along with the potential benefits for advisors and clients:

  • College Loans: Clients can determine their paydown strategy or let the block auto-calculate the monthly payment needed to be debt free in 10 years.
  • FastPath: Show clients the endless possibilities by investing in their futures now. Run the FastPath Optimization to show the optimal monthly payment amount to apply to each goal.
  • Retirement Bliss: Have couples/partners play this game to learn about each other’s vision for the future so you can help them plan a retirement that is enjoyable and satisfying for both.
  • Credit Cards: Find the best avenue for clients to pay off their credit card debt. This is also a great opportunity to engage with a client’s adult children or younger prospects or clients who aren’t yet ready for retirement planning.
  • Emergency Fund: Clients often express worry over not having an emergency fund. This block takes the worry out of the conversation and helps to guide clients through a step-by-step process for building an emergency fund.

To learn more about Envestnet | MoneyGuide and utilizing these features, request a free demo today. Already a MoneyGuide User? Contact our Support Team for additional information and training on your MoneyGuide subscription.

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. Past performance is not indicative of future results.


Tony Leal, President, Envestnet | MoneyGuide

Tony has been at Envestnet MoneyGuide since its inception in 1997. As president, Tony is focused on overall growth strategy, execution, and operations. He also has technical and management responsibility for the development of the MoneyGuidePro® systems, enterprise customer satisfaction, and is the system architect for all integrations and customized versions of our products. Tony has over 25 years’ experience designing and implementing computer systems for client companies, and over 15 years’ experience in designing, developing, and supporting software systems in the financial services industry.

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