Financial Management

Envestnet | MoneyGuide and Oyster Consulting Collaborate to Help More Firms and Advisors With Financial Planning Services

Envestnet | MoneyGuide reported today a collaboration with Oyster Consulting to provide paraplanning services to mutual clients. The partnership aims to allow more financial advisors to initiate, scale, and deepen financial planning relationships with clients at a lower cost.

"Clients are relying on advisors to have peace of mind and holistic guidance in addition to portfolio plans now more than ever," said Tony Leal, President of Envestnet | MoneyGuide. "For consultants who also have financial planning advice, the financial plan confirms its worth during these kinds of conversations time and again. Our collaboration with Oyster Consulting will help more firms – especially those who haven't historically provided planning and/or those worried about the time it can take their advisors to build plans themselves – to provide end-investor clients with the financial strategy they need in the most cost-effective way possible."

MoneyGuide's collaboration with Oyster Consulting, a firm that provides customers with comprehensive consulting, outsourcing, and software solutions, contributes to the company's goal of providing quality financial plans to all. According to a recent Kehrer Bielan study, companies that provided a hybrid method of supplementing advisors with a central planning team expanded household planning penetration by approximately 60%.

Before the launch of this first-of-its-kind offering, Oyster paraplanners attended MoneyGuide's Foundational Bootcamp and provided further, in-depth guidance on MoneyGuide's financial planning tools. After finishing the training, paraplanners will work with advisors in a non-client-facing role, assisting them in completing and enhancing MoneyGuide's financial strategy for particular clients from within the software.

About Oyster Consulting
Oyster offers financial management companies with consulting, outsourcing, and software. To bring more value to the company, their products and services are delivered by seasoned industry practitioners. Their emphasis on customer experience and long-term partnerships comes through its belief that value creation happens best when there is a thorough view of an organization's goals and culture.

About Envestnet
Envestnet, Inc. is revolutionizing the delivery of financial advice and wellness services. Our goal is to bring innovative technology, solutions, and intelligence to advisors and financial service companies to make financial wellness a reality for all. About 106,000 advisors and over 5,100 businesses, including 17 of the 20 biggest U.S. banks, 47 of the 50 largest wealth management and investment firms, over 500 of the largest RIAs, and hundreds of FinTech corporations, rely on Envestnet technology and services to improve results for enterprises, advisors, and their clients.

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