Envestnet’s national study examines the keys to unlocking Americans’ complicated financial relationships

Envestnet’s study, conducted in partnership with The Center for Generational Kinetics, reveals that advisors who offer compelling digital services alongside traditional in-person advice are best positioned for growth.

BERWYN, Pa., July 28, 2022 /PRNewswire/ — Envestnet released the findings of its first national study, “The Intelligent Financial Life: The Unexpected Intersection Between Technology, Clarity, and the Human Connection,” led in collaboration with The Center for Generational Kinetics, which discover surprising trends and attitudes. and the behaviors that Americans have across generations around the integration of financial advisors with new technologies to help them achieve their financial goals.

To learn more about the research and to download a copy of “The Intelligent Financial Life National Study: The Unexpected Intersection Between Technology, Clarity, and the Human Connection,” visit: https://bit.ly/3BoNRhs.

The study provides research-based insights into what it takes to help people achieve The Intelligent Financial Life™ – Envestnet’s answer to investor stress and confusion about money, and a way to connect all facets of your finances through a data-driven ecosystem. advice, solutions, intelligence and technology.

“At Envestnet, we are focused on supporting financial advisors with the tools and knowledge needed to guide clients on the path to a smart financial life,” he said. Mary Ellen Dugan, director of marketing at Envestnet. “The findings of this study suggest that by connecting people’s daily financial lives with their long-term goals, advisors can give their clients what they’re looking for: a unified, connected experience for all things money, investments and personal finance”.

This report examined the key issues facing the industry through a different lens. Rather than comparing attitudes about technology-only solutions versus working with a human advisor, the study sought to understand how investors view each path, where they constructively intersect, and what that means for the industry.

“Americans of all generations have a complicated financial relationship and get their information from many sources, including family, financial professionals and technology,” he said. Jason Dorsey, Generations and Behavior Researcher and Speaker, The Center for Generational Kinetics, LLC. “All of these sources matter, and consumers don’t want to be offered an ‘either/or’ experience. They’re bringing their own experience together across human and digital.”

The study’s findings fell into three distinct categories, showing that US investors and prospective investors:

We strongly believe that the human element is important in your financial well-being. Although digital financial tools are growing in use and trust, the human element, financial advisors and professionals, remains a key and probably the most important factor in establishing financial literacy and gaining financial confidence. Most Americans studied trusting a human financial advisor over digital advice options, and interestingly, Millennials report the same preference as Gen X and Baby Boomers to manage their personal finances through human interaction. They are confused and want clarity about what to do when it comes to money. Americans have different behaviors in terms of how they organize their short-term and long-term finances and how often they review their net worth. 39% of Americans surveyed don’t formally organize their short-term personal finances, and surprisingly, 20% of wealthy Americans don’t either, meaning millions of Americans aren’t taking steps to organize their your short-term personal finances. And while 51% of study participants reveal that they review their total net worth quarterly, annually, less frequently, or never, 25% have never reviewed their total net worth! They are firmly rooted in accessing money through the technology at their fingertips. Americans increasingly see money as something to be engaged with, managed, invested, and understood with the help of technology. 58% of Americans surveyed believe that financial apps, such as investing apps, money management apps, banking apps and more, are important to achieving their financial goals. And interestingly, that number rises to 76% when you look at Americans who currently work with a financial advisor.

“What is clear is that our industry must deliver a new digital human experience: a balanced mix of human-centric assistance through trusted financial professionals, with integrated technology involvement through financial applications and funding integrated,” added Ms. Dugan. “We have an incredible opportunity to understand what investors of all ages want, need and expect to truly help guide them on their journey to financial wellness, enabling them to reach their full financial potential.”


The national study included 2,158 American participants between the ages of 25 and 65. This included 1,038 US participants representing the general population and 1,120 US participants who have an annual household income or household net worth of 100,000 dollars or more The sample was weighted according to the 2020 US Census for age, gender, geography, and ethnicity. The national study was conducted online from December 13, 2021a January 11, 2022.

About Envestnet

Envestnet refers to the family of operating subsidiaries of public holding company Envestnet, Inc. (NYSE: ENVY). Envestnet is Fully Vested™ to empower advisors and financial service providers with innovative technology, solutions and intelligence to help make financial wellness a reality for their clients through an intelligently connected financial life. More than 106,000 advisors and more than 6,500 companies, including 16 of the 20 largest US banks, 47 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs and hundreds of FinTech companies, take advantage Envestnet technology and services that help drive better results for firms, advisors and their clients.

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Contact with the media:
Days of Taormina
JConnelly for Envestnet
[email protected]
(973) 647-4626

SOURCE Envestnet, Inc.



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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!