Workplace Financial Solutions | 401(k)s / 403(b)s, Student Loan Repayment, ESAs, HSAs, and 529s | Helping employees where they're hurting, so they can succeed with their money today and at retirement.
2 reasons Financial Wellness programs bomb, and the solution: 1.) Participants know (feel) the Advisor is just looking for more Wealth assets. 2.) Focus is on personalization, but Participants don’t have enough trust to share necessary financial info. SOLUTION: Focus on the “Big 4” that impact nearly every American / worker: * Emergency Savings * Debt Destruction * Track (and modify) Spending * Intentional plan to build retirement savings 1 simple, easy (measurable) action step each quarter that will combine to completely transform the employee’s financial life. These are the focus of The Employee Roadmap, which comes standard with our 401k services. THEN, once you have gained some momentum and money (from increased productivity and decreased healthcare spend) you can implement a more holistic financial wellness program.
Sid Pailla ☀️
6mo
Love that you focus on all four when you engage with plan participants and employees!
☕️ Scott Pooch love the 4 action steps. And couldn't agree more, financial literacy is a critical component but it's equally important to give people steps they can take. Thanks for your insight.
CEO @ SecureSave
6moThis is a persistent problem we see as well Scott. Employees need an easier onboarding path to start talking about their financial wellbeing at work. ESAs have shown to be a great onramp for a huge percentage of employees and we see many of those same employees begin to engage with other programs once they start with an ESA. We should have more data on this in the months ahead.