Another attractive aspect of MyBlocks Digital Marketing is its integration with Redtail CRM, the leading CRM application according to the 2019 T3/Inside Information Software Survey. If an advisor is a user of MyBlocks and a Redtail CRM, when a new investor registers with MyBlocks, a new household is created as a prospect within Redtail. The new prospect information includes date of birth, marital status, gender, the date the contact was created and who the contact was created by (the advisor who supplied the URL to the prospect). Redtail CRM can be configured so that an advisor is alerted when a new prospect is created, and the CRM can create an entry under opportunities.
By the time you receive the alert, or shortly thereafter, the Redtail CRM will be able to assign the new prospect to a person in the office or, if the firm has a prospect workflow, the entry to the CRM will be able to launch the prospect workflow that the advisory firm has established. While the integration and workflow capabilities are limited to Redtail CRM today, they will almost certainly be extended to other popular CRM solutions if there is sufficient demand.
This enhanced iteration of MyBlocks for independent advisors retails for $1,400 annually. Volume discounts and discounts through various custodians and associations are available. For a limited time, only Envestnet MoneyGuide will include the Yodlee account aggregation that powers the Yodlee Blocks at no additional cost.
MyBlocks is the most significant innovation in the financial planning space since the launch of MoneyGuidePro early this century. Blocks are much more than mini-modular financial planning apps. They are great communication tools and conversation starters. They simplify financial planning concepts that are sometimes difficult for the lay person to understand. Because they are quick and easy to use, and because they can be incorporated into a collaborative or even a self-service model, blocks open up financial planning to a new audience that was previously priced out of the market. MyBlocks can address the needs of those just starting out on their financial journey, as well as those preparing to retire or already retired. The addition of MyBlocks Digital Marketing only serves to strengthen the MyBlocks value proposition.