Issue link: https://resources.envestnet.com/i/1527486
17 © 2021 Envestnet, Inc. All rights reserved. The connected scope of the advice our industry can offer to individuals is rapidly expanding. These encompassing capabilities become the scaffolding for extending relationships with existing clients, introducing new digital engagement tools that bridge to the human experience and expertise that is the core of the industry. The industry needs to respond. The product-first mindset needs to evolve. There are tremendous opportunities for the ecosystem to expand and fulfill the needs of financial consumers. Here are opportunities we see, and highlight, for the industry to consider: Education is so important. We believe there is an opportunity to take the elements of financial education and integrate the information into the consumer's financial journey. Think of reading on a Kindle. A word, a person, a highlight frequently noted, you can click and find the answer. And then keep going. Informed, everything makes more sense to you. At the point of experience, there is also an opportunity for the consumer to best learn and understand the essence of the information or result they are trying to figure out. There has been tremendous innovation in financial products over the last years, but most have been made within the proprietary walls of an asset manager or an insurer. The industry should seek collaborations that bring innovative and integrated offerings across the spectrum of consumers' needs. Banking, investing, insuring, healthcare, retirement. Inside our ecosystem, using investor behavioral data, we see how pieces are being brought together. We believe there is a more turnkey way to do it, and opportunity for those who do. Data-driven apps help people make smarter decisions across their varied financial interactions. GOAL $3,500 $2,309 Should I spend? $734 spent of $1,000 $266 Remaining You vs. Peers February 2021 Your subscriptions Latest Alerts $399 $156 $29 $13 $399