NEW YORK, Jan. 20, 2022 /PRNewswire/ -- FP
Alpha, an artificial intelligence-driven, holistic
financial planning solution, and Envestnet |
MoneyGuide, an industry leader in client-centered
financial planning innovation, announced today a powerful
integration which will allow advisors to take their goal-based
planning for clients one step further by highlighting additional
planning recommendations increasing their overall value
proposition.
Envestnet | MoneyGuide, FP Alpha
Integration Empowers Advisors to Offer More Personalized
Advice
FP Alpha enables advisors to upload a client's financial
documents: wills, trusts, tax returns, and insurance policies to
instantly summarize the data and identify actionable and
personalized planning opportunities. This quantifies the value of
the advice to clients and prospects. With 40 subject matter
experts, including estate attorneys and insurance specialists, FP
Alpha offers comprehensive financial advice spanning a person's
life.
"Many of the advisors who utilize FP Alpha also use Envestnet |
MoneyGuide as their retirement planning software and they asked us
to prioritize this integration, and so we did just that," said
Andrew Altfest, CFP,
Founder and CEO of FP Alpha and President of Altfest Personal
Wealth Management. "The integration eliminates duplicate data
entry therefore saving the advisor significant time and getting to
the advice of the tool faster – which is where the real value add
is."
Specifically, the tool, utilizing AI, reads client documents
such as tax returns, wills, trusts, insurance policies, extracts
and analyzes the data and provides specific recommendations based
on those documents. The Tax and Estate snapshot allow advisors to
provide a summary of the clients' current situation in the matter
of minutes. They can also model various tax and estate scenarios to
show the value of their advice.
The MoneyGuide integration will allow FP Alpha to populate
demographic data as well as the net worth items including
Traditional and Roth IRA's, 401(k) and 457 Plan's, Brokerage
Accounts, Life Insurance, Student Loan's, and 529 Plans, to name a
few. A joint webinar to explain how the integration works will be
held on Feb 1st and is
complimentary and can be found here, Registration
(gotowebinar.com)
"At Envestnet | MoneyGuide, we believe the future of financial
advice revolves around data and personalization," said
Rose Palazzo, Group Head at
Envestnet | MoneyGuide. "This integration with FP Alpha
will help advisors to connect more dots for clients, seamlessly
bringing more of the details on a client's overall financial life,
including estate planning and retirement goals, into the
picture."
About FP Alpha Founded by financial planner and
industry leader, Andrew Altfest, CFP ®, FP Alpha is an
AI-driven comprehensive wealth management solution that helps
advisors identify actionable recommendations to clients, in a
scalable, intelligent, and cost-efficient manner. FP Alpha is
designed to integrate seamlessly into the many stages of the
financial planning process and is complementary to the advisor's
current financial planning software, starting where they stop. By
leveraging AI learning and subject matter experts across 16
financial planning disciplines, this innovative tool allows
advisors to uncover new planning opportunities and provide clients
with more holistic advice. For more information, please
visit: https://fpalpha.com and follow us on Twitter @_FPAlpha
and on LinkedIn.
About Envestnet
Envestnet refers to the family of
operating subsidiaries of the public holding company, Envestnet,
Inc. (NYSE: ENV). Envestnet 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. Nearly 108,000 advisors and more than 6,000
companies—including 17 of the 20 largest U.S. banks, 47 of the 50
largest wealth management and brokerage firms, over 500 of the
largest RIAs, and hundreds of FinTech companies—leverage Envestnet
technology and services that help drive better outcomes for
enterprises, advisors, and their clients.
For more information on Envestnet | MoneyGuide, please visit
www.moneyguidepro.com and follow us on Twitter at @ENVMoneyGuide or
LinkedIn.
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SOURCE FP Alpha