The newest version of MoneyGuide integrated into Covr’s digital insurance platform provides the ability for financial advisors to dynamically plan for clients’ changing life insurance needs over time.
Boise, ID, August 27, 2019 (PRNewswire)- Covr Financial Technologies and Envestnet MoneyGuide announced the launch of Covr’s digital platform integration within the MoneyGuideElite financial planning software product and the lifetime insurance block within the MyBlocks digital, client engagement financial wellness solution. This partnership combines the power of Covr’s digital insurance platform with the industry’s leading financial planning software to allow financial advisors to better meet their clients’ changing life insurance needs over time. Life insurance protection is a critical component of a comprehensive financial plan.
With Envestnet MoneyGuide’s most recent update, the lifetime view functionality allows financial advisors to see how life insurance affects their clients’ financial plans, now and throughout the course of their life. Advisors can make projections and see recommendations within MoneyGuide, and then complete the application process online via Covr’s industry-leading digital platform.
“Life insurance protection is a vital part of any comprehensive financial plan, and Covr and Envestnet MoneyGuide are thrilled to be teaming up to make this easier and less time-consuming for financial advisors,” said Todd Ruplinger, founder and Chief Innovation Office at Covr. “Our mission is to make sure as many families are protected as possible, and this is a big step toward that goal.”
“We are thrilled to be able to offer this enhanced lifetime protection as a natural outcome of a financial plan in both MoneyGuideElite and MyBlocks,”said Tony Leal, President of Envestnet MoneyGuide. “Our continuing partnership and integration with Covr enhances this capability even more by allowing advisors to easily complete recommended life insurance applications online. It’s a perfect match.”
This integration between two financial technology leaders gives financial advisors the ability to easily analyze their clients’ life insurance needs, track those needs over the course of their lifetime, view solutions and coverage options, and submit the application quickly and easily through Covr’s digital platform.
AboutCovr Financial Technologies Inc.
Covr partners with financial institutions to provide life insurance solutions to their customers in an efficient, easy way that streamlines the process of selling and buying policies. Covr offers a choice of trusted life insurance products from leading insurance carriers, an easy way to compare rates, and the ability to purchase policies within minutes. Through its white label solutions, Covr helps financial institutions deliver a great experience under an existing brand their customers already trust. Covr currently serves 24,000 financial advisors and 10 million customers across 30 financial institutions.
Covr’s investors include four leading venture capital firms: Nyca Partners, Commerce Ventures, Connectivity Capital Partners and Contour Venture Partners. The Covr Advisory Board includes several well-recognized leaders in financial services and insurance, including Chairman Brian Finn, former president of Credit Suisse First Boston; Sallie Krawcheck, CEO and co-founder of Ellevest as well as senior executive roles at Bank of America, Citigroup and Smith Barney; Hans Morris, managing partner, Nyca Partners, chairman of Lending Club, formerly president of Visa; and Brady Dougan, former CEO of Credit Suisse. Covr has offices in Boise, ID and Hartford, CT.
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 advisors (“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 RIAs 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 on Envestnet MoneyGuide, visit www.moneyguidepro.com and follow @ENVMoneyGuide.