Goalsetter, a financial education platform for families, has teamed up with Envestnet to give financial advisers the resources they need to help clients achieve their long-term goals of establishing generational wealth.
“At Envestnet, we’re providing the technology, solutions and intelligence advisors need to help clients meet current financial obligations and long-term, future goals – what we call The Intelligent Financial Life,” said Envestnet group head of product innovation Dani Fava.
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“Ensuring advisors can engage all family members with innovative tools like Goalsetter’s financial education and savings platform means they can better help their clients build a foundation for achieving generational wealth, while also providing valuable resources to clients and building recognition for their brand and business with the next generation.”
Financial advisers must focus on teaching all generations on financial problems, as wealth is being moved between generations.
Younger millennials are getting less optimistic about their financial future, according to Envestnet research, with only 38% feeling safe in their current financial condition.
The relationship with Goalsetter will expand Envestnet’s current platform to give clients with a broader selection of solutions to help them achieve their financial objectives.
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By GlobalDataAdvisers can utilise Goalsetter to help all generations of a family create useful money habits from a young age. This includes habits such as saving, investing, credit management, and also risk management.
“We know that generational wealth is not attainable without generational knowledge,” says Goalsetter CEO Tanya van Court.
“According to GoBankingRates, 90% of wealthy families lose their wealth by the third generation, and successful wealth managers are focused on helping families to mitigate that risk. Goalsetter’s education-first financial solutions are designed to transform both family finance and family financial acumen, and Envestnet is a perfect partner to help us evolve the role of wealth managers from individual advisors to family-focused financial partners and supporters.”
