Wednesday, February 22nd, 2023 A topical newsletter from PLANADVISER Financial Wellness Participants have many financial needs—meeting everyday expenses, paying off debt, saving for emergencies, paying for health care and saving for retirement—but there’s only so much money to go around. How do participants decide where to allocate their income while balancing short-term and long-term priorities? The below articles look at the trends and innovations in this growing space. SPONSORED AD PRACTICE MANAGEMENT Retirement Saving Hardest Financial Habit for Homes to Adopt Hearts & Wallets finds just 43% of households have a habit of retirement saving, even as financial wellness tools and guidance proliferates. PRACTICE MANAGEMENT Many Providers Are Prioritizing Participant Financial Advice in 2023 Advisory shops and providers are launching new workplace programs, updating others and sometimes bypassing the plan sponsor altogether to reach participants. DATA & RESEARCH High Inflation Takes a Toll on Employees’ Financial Well-Being Inflation, which remains elevated as of Tuesday’s CPI report, has led to increased stress, less financial preparedness and growing debt, according to EBRI. PRACTICE MANAGEMENT Employers Working to Address Growing Concerns for Emergency Saving HR leaders are struggling to manage the array of employee stressors related to a lack of emergency funds. PRODUCTS SageView Launches Financial Education Platform for Participants One of the country’s largest independent retirement plan advisories taps Kerry Woods to lead a new financial readiness platform to provide financial planning services for retirement plan participants. DATA & RESEARCH Retirement Savers Held Course in 2022 Despite 401(k) Declines The latest retirement plan participant tracking from Vanguard and Bank of America show retirement savers’ resilience last year.  Did someone forward you this newsletter? Sign up here to get PLANADVISER Spotlight directly in your mailbox!

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