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A Call to Action: Our Industry's Time to Empower the Consumer
1. Integrate Financial Education Initiatives to Help Consumers Achieve Financial Balance
2. Break Down Industry Silos to Meet the Spectrum of Consumers' Needs
3. Deploy Algorithms to Reshape the Way Consumers Manage Their Finances
4. Put Connected Financial Lives into the Pockets of Consumers via Mobile Apps
5. Rely on AI to Personalize the Client Experience
6. Empower Financially Underserved Communities
Key Insights:
• Most of the financial decisions we make are disconnected from each other. That includes our daily
financial interactions and the plans we're making for the future.
• Consumers are seeking a seamless, interconnected experience that supports them completely, from
today's spending to tomorrow's plans.
• COVID-19 has led to an increased demand for digitization. The opportunity is ripe for companies to
make strategic investments.
• A modernized financial mindset can put the consumer in charge with an ecosystem of providers who can
help them understand, measure, optimize, and connect their financial lives.
• Behavioral science can support an integrated financial experience and help reduce financial stress,
guiding decision-making to support better financial outcomes and helping consumers understand the
implications of their finances on the world around them.
• The industry will be responsible for setting guidelines and frameworks to ensure the safety, privacy, and
benefit of consumers.
• Envestnet is already building a personal financial ecosystem to empower the connected financial
consumer and drive our industry's purpose. The future is here.
