Issue link: https://resources.envestnet.com/i/1527486
6 © 2021 Envestnet, Inc. All rights reserved. There is an expanding gulf between companies with higher growth and sustainable business models versus pre-COVID good companies becoming less attractive and now consolidation targets. Scaled platforms, future-based offerings, personalized, consumer-first market approach, digital engagement and delivery model, recurring revenues, and sustainable competitive advantages become more and more highly valued. These companies need to invest to grow and sustain intense market speed to meet post-pandemic consumer expectations. Then, across the gulf, are companies that haven't achieved scale, their offerings are commoditizing, they operate legacy technologies and human-first delivery models. These companies will merge to get scale or combine with the faster growers to bring market share or cost consolidations to fuel more growth for the post-COVID premium enterprises. These themes will accelerate and reveal themselves in all sorts of announcements and deals in the months ahead. The rumble is just beginning. The Future: One Connected Financial Life The age of the intelligent, connected financial life is what is next for our industry. This is a unified experience that will accompany a person from the first dollar they spend tomorrow, to the decisions they make for their family's next generations. Integrated. Connected. Intelligent. Helping to make better financial decisions to balance their financial needs today, while building to meet their aspirations for tomorrow. Before COVID, financial lives were approached by the industry according to the products companies offered. Financial consumers collected solutions from all over the place and were left with the challenge of putting an impossible puzzle together. This will change. Consumers will demand digital engagement, backed by expertise, and a seamless flow between the things they are spending money on and the investments they are making for their futures. The products become tools, the solutions are connectivity and intelligence, and the financial life becomes the industry's purpose. Consumers are demanding a seamless flow between the things they're spending money on and the investments they're making for the future. The intelligent, connected life is what our industry needs to deliver.