Name: Tony Leal
Title: President
Company: Envestnet | MoneyGuide
Web Address: https://www.moneyguidepro.com/ifa/

 

Tony Leal, president of Envestnet | MoneyGuide, 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. Envestnet | MoneyGuide helps advisors use financial planning to motivate clients to create, implement and maintain an investment strategy that meets their financial goals.

What does your firm do/offer within the fintech sector?
While technology has revolutionized the entire financial services landscape, including financial planning, there will never be a substitute for human advice and the advisor-client relationship. For 20 years, this has been MoneyGuide’s focus.

Our digital tools and solutions today empower advisors to deliver more personal advice to clients. From these deeper conversations, advisors help clients create unique financial plans based on individual goals.

Most people I meet, talk about the importance of a financial plan; however, it’s amazing how few people actually have a financial plan in place. According to a Fidelity study, only 18% of Americans have a financial plan in place. In 2019, more than 2 million financial plans were created using MoneyGuide. I think we'll see these numbers grow as consumers turn to advisors for help managing their long-term goals and finances in today's market.

With April being Financial Literacy Month, it is important to recognize how vital financial wellness is for you and your entire family. I can’t think of a more noble cause than to help support people to achieve their financial goals and give them peace of mind through retirement.

How do you feel consumers are adapting to the facet of fintech that your company operates within?
Consumers are accustomed to gaining instant access to information on just about everything. This is no different for finances. Since financial plans are never “done” and change as people change, modern consumers must have on-demand access to their financial plan in real-time. This means RIAs must have digital tools, integration with data sources, and technology that offers clients direct access to their plans. 

We are committed to empowering advisors to work with their clients to define and prioritize financial goals into needs, wants and wishes that will help them achieve financial wellness throughout all stages of their life. All MoneyGuide solutions allow advisors to engage with their clients digitally and provide virtual access to plans and planning resources.

What areas of fintech do you believe will grow the most in the coming 5 years?
In the next five years, we will see the coupling of the financial plan with product solutions become the new normal. This is already a trend taking hold within our industry. From saving to spending, budgeting, borrowing, and more, clients want to discuss their entire financial picture with advisors.

By leveraging dynamic partnerships, advisors can ensure the best possible outcome for their clients, helping them to ultimately achieve financial wellness.
 

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