The tool is designed to provide retirement plan advisers and plan committees with custom reports detailing employer cost-savings that result from the implementation of financial wellness programs.
“Financial wellness programs often promise the moon when it comes to savings, but how relevant are these numbers for a specific employer?” asks Matt Iverson, founder at Boulevard R. “By combining current research and Retiremap’s established performance metrics, we can now provide plan advisers and retirement plan committees with a custom savings forecast based on their retirement plan’s unique profile.”
Additionally, Retiremap’s new ROI tool helps plan advisers project how a financial wellness program can lead to new revenue opportunities, such as charging more for services by demonstrating measurable impact.
“The problem with traditional employee financial education is that the group meeting format and the lack of customized and personalized information means that it rarely leads to desired behavioral changes,” explains Matt Gnabasik, managing director of Blue Prairie Group, which will collaborate with Boulevard R for an upcoming webinar on the subject of employee financial wellness.
The webinar will explore the subject of how to quantify the value of financial wellness, and how doing so can help advisers add value and differentiate their service offerings from the competition. The event is scheduled for April 24, and registration is here.