Goalsetter, an award-winning family financial education-focused spending and savings platform, is partnering with Envestnet, a leading provider of intelligent systems for wealth management and financial wellness, to provide financial advisors with the tools their clients need to help them reach their long-term goals for building generational wealth.
"At Envestnet, we're providing the technology, solutions and intelligence advisors need to help clients meet current financial obligations and long-term, future goals – what we call The Intelligent Financial Life™," said Envestnet Group Head of Product Innovation Dani Fava. "Ensuring advisors can engage all family members with innovative tools like Goalsetter's financial education and savings platform means they can better help their clients build a foundation for achieving generational wealth, while also providing valuable resources to clients and building recognition for their brand and business with the next generation."
Engaging with all generations on the importance of financial education has become increasingly important for financial advisors, especially with a significant transfer of generational wealth underway. Envestnet's generational research shows that younger generations are increasingly less confident about their financial future. In fact, only 38% of younger Millennials (those ages 25 to 35) feel secure in their current situation1.
Goalsetter's partnership aims to complement Envestnet's current platform designed to help clients access a diverse set of solutions that make them feel secure in their ability to meet their financial goals. With Goalsetter, advisors can cut across generations by helping every member of the family to develop healthy relationships with money from a young age and better understand the key tenets of saving, investing, managing credit and managing risk.
"We know that generational wealth is not attainable without generational knowledge," says Goalsetter CEO Tanya Van Court. "According to GoBankingRates, 90% of wealthy families lose their wealth by the third generation, and successful wealth managers are focused on helping families to mitigate that risk. Goalsetter's education-first financial solutions are designed to transform both family finance and family financial acumen, and Envestnet is a perfect partner to help us evolve the role of wealth managers from individual advisors to family-focused financial partners and supporters."
Goalsetter
Nationally recognized for its real-world approach to family-focused financial education, Goalsetter is a goal-based savings and smart spending platform that provides families with both engaging educational media and the foundational tools for building wealth. The Goalsetter platform is mapped to JumpStart.org national financial education standards and uses fun, engaging financial wellness content built around pop culture, memes, GIFS and gamification to teach families the language of money.
In turn, Goalsetter has brought the financial education conversation to the dinner table, helping parents become more engaged in the conversation of financial wellness with their children and setting them up for building wealth for their future generations.
Goalsetter's ground-breaking offering of family-friendly financial education tools and unique, next generation features have set it apart in the banking for teens market. In addition to learning about money through gamification and fun gifs and memes, features such as "Learn to Earn," which lets kids earn money for every financial quiz question they get right, and "Learn Before You Burn," which lets parents automatically freeze teens' and tweens' Cashola Prepaid Debit Mastercard® if they haven't taken their financial literacy quizzes for the week, have been favorites for kids and parents alike.
