Envestnet Publishes Playbook for Empowering Advisors to Lead Clients Forward Post-Pandemic

Amid Industry Transformation, Envestnet’s Guide Outlines How Advisors Can Position Themselves as Essential Partners Helping Clients Achieve Financial Wellness

CHICAGO—July 15, 2020—Envestnet, Inc. (NYSE: ENV) has rolled out a new resource, The Advisor’s Playbook for Leading Your Clients Forward, outlining the COVID-19 pandemic’s far-reaching impact on the wealth management industry—and the steps financial advisors can take to adapt. 

The Advisor’s Playbook for Leading Your Clients Forward can be downloaded at https://www.envestnet.com/leading-clients-forward

“COVID-19 is redefining many aspects of how we live, including how essential advice will be delivered. Advisors must evolve in order to meet changing client expectations and provide value in the new reality that is approaching,” said John Harris, CFP®, Managing Director and Head of Global Advisory Sales at Envestnet. “The guide we have compiled for advisors maps out where our data and observations show the wealth management industry is going, and gives advisors the insights they need to position themselves as essential partners in helping to bring financial wellness to American families and communities.”

Envestnet has organized a webinar discussing The Advisor’s Playbook for Leading Your Clients Forward, scheduled for July 23, 2020 at 4 p.m. ET. The webinar, “Leading Clients Forward In Uncertain Times,” will be moderated by Andrew Stavaridis, Executive Managing Director and Head of the Enterprise Sales Channel at Envestnet, and will feature Mr. Harris and other Envestnet leaders. Webinar registrants can apply to receive continuing education credits toward the Certified Financial Planner (CFP®) designation. To register, visit https://www.envestnet.com/webinar-leading-clients-forward

The playbook presents the six significant ways the industry will likely be transformed following the pandemic, and outlines the actions advisors can implement to differentiate their practices and better serve their clients:

  • A New Level of Trust & Relevance are the Currency of Valued Engagement: Americans have been inundated with information throughout the pandemic, driving concern about what’s fact versus fiction. Advisors need to offer advice reinforcing their empathy, trustworthiness, and expertise to help clients cut down on the noise.
  • Digital Becomes More Human: Social distancing, remote education, and work-from-home setups have forced the use of digital tools, blurring the distinction between in-person and virtual communication and relationships. Advisors must utilize digital channels to accommodate client needs and provide the personalized, human interaction they value.
  • Families & Communities Lead the Way That Life Gets Redefined: With people spending more time with their families within smaller geographic areas for the foreseeable future, greater community spirit has been fostered around the country—along with more demand for local products. In addition to looking for opportunities to support businesses and families in their local communities, advisors can include clients’ children and elders in the financial planning process as part of a focus on the entire family.
  • Redefining What It Means to Be Prepared: The speed and breadth of job losses and unemployment shocked individuals, healthcare systems, school systems, government institutions, and companies. Advisors can customize preparation by simplifying the planning process, and personalizing it to clients’ specific goals, concerns, and needs.
  • The Fusion of Health & Wealth: COVID-19 has made clients more anxious about health and the future. Moving forward, advisors will need to leverage technology and data to provide truly holistic answers to the question, “Will I be okay?” When clients ask this, advisors have to be prepared with responses encompassing physical, emotional, and financial wellness.
  • Creating a New Playbook for a Sustainable Business: The office of the future will look different. Automating routine tasks, increasing the scope of advice, and looking for opportunities to strengthen client relationships will enable advisors to do more with less, while improving the client experience. 

“We view the pandemic as a turning point for advisors, and we continue to expand our thought leadership resources to help them prepare for the future,” said Mr. Harris. “Advisors have the opportunity to provide the much-needed human connection and valuable insights which can bring hope and stability to individuals, families, and communities across our nation. Our playbook tells them how they can become essential advisors during, and after, this time of great uncertainty and volatility.” 

The Envestnet Advisor Summit On-Demand (https://www.envestnet.com/advisorsummit) features keynotes from Envestnet CEO Bill Crager and other thought leaders analyzing how the pandemic is changing the wealth management industry, and the delivery of essential advice.  

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 103,000 advisors across more than 4,900 companies including 16 of the 20 largest U.S. banks, 46 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, please visit www.envestnet.com, subscribe to our blog, and follow us on Twitter (@ENVintel) and LinkedIn

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Dana Taormina
JConnelly for Envestnet

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