Wednesday, August 23rd, 2023 A biweekly topical newsletter from PLANADVISER Financial Wellness Financial wellness for participants goes far beyond retirement savings and security, and advisers are being asked by plan sponsors to discuss solutions and tools for those varying needs. The below articles look at trends in financial wellness. SPONSORED AD PRACTICE MANAGEMENT Why Short-Term Financial Stress Hurts Long-Term Savings A T. Rowe Price retirement expert finds participants who take multiple short-term loans end up with less retirement savings—furthering the case for emergency savings. PRACTICE MANAGEMENT Carson Group Starts Beta Testing for New Financial Wellness Program The wealth manager plans to join other big RIAs in serving participants with its own financial wellness program, according to its head of wealth solutions. DATA & RESEARCH Few Americans Report ‘Financial Freedom’ Amid Record High Credit Card Debt Research from Achieve suggests Americans are struggling to make ends meet, but separate research from WalletHub notes inflation is masking relatively strong debt management. PRACTICE MANAGEMENT With Roth Use Set to Grow, Vanguard Stresses Participant Education The firm’s retirement head says its plan sponsor clients are ready for implementation, but participants can use more information. DATA & RESEARCH 73% of 401(k) Savers Would Like Personalized Investment Advice Calculating the amount needed for retirement and identifying a retirement income stream are among the top needs for workplace savers, according to Schwab’s annual 401(k) participant survey. PRACTICE MANAGEMENT New Fiducient Advisors CEO Sees Financial Wellness as Key Focus Area Sabrina Bailey says she is going back to ‘true roots’ of shaping investing and retirement outcomes for end clients. Did someone forward you this newsletter? Sign up here to get PLANADVISER Spotlight directly in your mailbox!

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