Nitrogen | Press Release: MoneyGuide and Nitrogen Expand Partnership
We are excited to announce the newly-expanded integration between Nitrogen and the MoneyGuide suite. Read the full announcement from our friends at MoneyGuide below.
Envestnet | MoneyGuide and Nitrogen Expand Partnership Launching The Risk Number® Block
The most recent addition to MyBlocks provides a seamless connection from Nitrogen to the MoneyGuide suite.
BOSTON, MA — October 2, 2019 /PRNEWSWIRE/ —
Envestnet | MoneyGuide, the creator of leading financial planning software, MoneyGuidePro®, today announced a MyBlocks integration with Nitrogen, formerly Riskalyze, which enables advisors to pinpoint an investor’s Risk Number® in an effort to build a portfolio containing an appropriate amount of risk. This MyBlocks integration – one of the first outside of the Envestnet network – creates a seamless connection between a client’s Risk Number and the other blocks available on the MoneyGuide platform.
“Understanding risk is an important part of a client’s financial life and integrating with Nitrogen is a natural step in the development of MyBlocks,” said Kevin Hughes, Chief Growth Officer at Envestnet | MoneyGuide. “This integration further expands the range of topics advisors can discuss with investors, or even allow for them to explore on their own, within the MyBlocks ecosystem. We are excited to continue to expand MyBlocks with additional integrations in the future.”
The newly released block will walk the investor through the Nitrogen questionnaire assessing a client’s Risk Number and then import into MoneyGuide’s platform as a risk tolerance score. The advisor can then appropriately assign a risk score for the entire household and streamline the investment decision-making process. The advisor can create an entirely new financial plan, or rework their current plan, utilizing the Risk Number to determine the appropriate investments to help reach their goals.
“We’re thrilled to see the Risk Number more deeply integrated into such an industry-leading financial planning platform,” said Aaron Klein, CEO at Nitrogen. “The quantification of risk alignment has become an essential part of the financial planning process, and we’re excited to play a role in MoneyGuide’s MyBlocks ecosystem.”
Envestnet | MoneyGuide released MyBlocks in July of 2019 in an effort to revolutionize the financial planning industry. Available to all financial professionals, MyBlocks allows advisors to engage prospects and clients of all ages and financial backgrounds. MyBlocks facilitates incremental financial decisions through a captivating user interface where key financial wellness topics such as: social security, retirement compatibility, college loan debt, and building an emergency fund are broken up into bite-size “blocks.” MyBlocks is a separate product offering outside of the firm’s MoneyGuide financial planning suite.
About Envestnet | MoneyGuide
Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology empowers enterprises and advisors to more fully understand their clients and deliver actionable intelligence that drives better outcomes and improves lives.
Envestnet Wealth Solutions enables enterprises and advisors to better manage client outcomes and strengthen their practices through its leading Wealth Management Operating System and advanced portfolio solutions. Envestnet | Tamarac provides portfolio management, reporting, trading, rebalancing and client portal solutions for registered independent advisers (“RIAs”). Envestnet | MoneyGuide provides goals-based financial planning applications. Envestnet Data & Analytics enables innovation and insights through its Envestnet | Yodlee data aggregation platform.
More than 99,000 advisors and more than 4,100 companies including: 17 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.
For more information, visit www.moneyguidepro.com or follow @ENVMoneyGuide.
About Nitrogen
Nitrogen is the company that invented the Risk Number®, which powers the world’s first Risk Alignment Platform and was built on top of a Nobel Prize-winning academic framework. Advisors, broker-dealers, RIAs and asset managers use the Nitrogen platform to create alignment between clients and portfolios, leverage sophisticated analytics to increase the quality of their advice, automate client engagement, and more — all with the mission of empowering the world to invest fearlessly. To learn more, visit nitrogenwealth.com.