“This study shows that for financial firms who want to improve retirement savings outcomes must evolve their role from just account providers to trusted partners that people can turn to for help on holistic financial wellness,” NARPP says.
Tag: Financial Wellness
One-third of North American workers surveyed said their employer does not offer retirement education or coaching.
“In creating this new financial wellness platform, we designed a hybrid human/digital approach that engages all users in the way that feels most comfortable to them," says Kate Barton, EY Americas vice chair of Tax Services.
This is particularly high among Gen Z (69%), Millennials (64%) and Gen X (66%), a survey found.
Bruce McClary, vice president of communications at the NFCC, said men have the highest levels of financial confidence, but are less likely than women to reach out for financial advice.
Given a personal finance survey, participants could answer only half of the questions correctly
Nearly one in four say retirement planning is a touchpoint for financial stress
Launching in spring 2018, PlanSmart Financial Wellness will focus on behavioral change, giving employees the tools, guidance and support they need to improve their financial wellbeing.
A survey of 1,000 Americans found 35.7% of respondents are going to use the money to pay down debt faster, 12.8% are going to use the money to save more for retirement, and 3.5% are going to use the money to invest in the stock market.
Among those who have never exercised or sold their equity compensation or ESPP, 34% admit to being worried about selling under the wrong market conditions and 34% say they are afraid of potential tax implications of making a wrong decision.
The new financial wellness program is designed to inspire, educate and encourage employees to make lasting financial behavior changes.
The platform highlights the importance of integrating both physical health and financial wellness in a worker's lifestyle.
OneAmerica Reveals Leadership Changes Within Company; TRA Acquires ACS to Expand Northeast Region; USI Hires SVP and Regional Sales Director; and more.
Latest studies find workers and employees share distinct disconnects with what type of financial education is needed.
T. Rowe Price brings in new head of CEDT Innovation Center; Kestra Financial adds specialists to adviser platform; USI Consulting hires assistant vice president of retirement services; and more.
The firm says the tool allows individuals to take control of their competing financial priorities by automating their spending and saving for short- and long-term goals.