PLANADVISER Weekend Newsdash
Week ending December 18th, 2020

While the topic of financial wellness has been an important focal point for several years now in the retirement plan advisory space, the coronavirus pandemic has cast an entirely new light on the concept of financial wellness. Simply put, the virus has exposed financial fractures and weak points impacting individuals across the income spectrum, putting the onus on advisers to help people create a sense of stability and confidence about their short-term finances.

Editor's choice
The Financial Services Industry Can Help Tackle Economic Inequality
Each U.S. household in the bottom half of the wealth distribution has only $20,000 of net worth, on average, a figure that represents less than 0.1% of those at the very top. Helping more people to own homes and to invest even modestly in the stock market are seen as critical steps to closing that gap. Read more >
Financial Wellness Programs in Greater Demand During COVID-19
Prudential survey finds employees were looking for financial advice and emergency assistance. Read more >
Prepare to Meet the Needs of the Workforce of the Future
The way in which companies structure their remotely distributed workforces will depend on the financial consequences of the pandemic, the impact on corporate culture and other factors, such as the prevalence of gig work. Read more >
Helping Clients With Part-Time Employee Inclusion in Retirement Plans
Counting hours, implementing cashouts and finding missing participants are some of the processes plan sponsors need to review for the SECURE Act’s new requirement. Read more >
Hearts & Wallets Study Shows Workers Want More Personalized Financial Advice
American workers are expecting more from workplace programs, such as tailored communications and experienced representatives. Read more >
Getting Income Projections Right
Retirement industry practitioners support the provision of mandatory lifetime income disclosures to plan participants, but they also emphasize the importance of broader income conversations and education. Read more >
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