Richmond, Va.-based Envestnet | MoneyGuide this week announced technology that enables firms to embed MoneyGuidePro’s capabilities directly into their own technology suites.
MoneyGuideEngine is a suite of APIs that can directly integrate into a financial advisor’s existing technology.
"Essentially, we are now enabling firms to integrate our tried and tested 'calculation brain,' or the central API engine that makes Envestnet | MoneyGuide tick, within their own planning software offerings and products," said Tony Leal, president of Envestnet | MoneyGuide, in released comments. "This means firms and advisors can own the fun part of creating the client planning experience, and they can rely on our award-winning APIs for the boring, yet essential, math and algorithms that connect the dots of the financial plan."
The APIs include MoneyGuide’s existing capabilities for goals-based planning, allowing firms to create their own digital experience to engage clients in the first stages of financial panning.
Long-term financial planning is also included, enabling long-term projections for financial concerns like retirement withdrawal strategies and fulfilling life insurance needs.
Self-directed planning capabilities allow the advisor to devolve some matters directly to clients, enabling their clients to engage in these experiences via a firm’s website or client portal rather than relying on external technology and using textual information or education materials provided by the firm.
Envestnet | Moneyguide framed the new APIs as timesaver with the power to allow advisors to focus more on the advisor experience and also allow firms to take a more customized and personalized approach to serving clients, particularly the APIs around self-directed planning.