Council Publishes Guide to Help Employers Sort Through Financial Wellness Solutions
- Created: Friday, 17 April 2020 14:55
East Granby, CT – The Retirement Advisor Council announces publication of its VIEWPOINT “What do you Mean When You Say Financial Wellness?”
The guide posted HERE helps employers decide
- Which Financial Wellness programs are appropriate for their workforce, and
- How to assemble a program that reduces employees’ financial stress and keeps them focused on their work.
A myriad of types of financial wellness programs aimed at reducing employee stress exist in the marketplace. “Choosing the right solution can be overwhelming and requires a thorough understanding of each particular workforce and other benefits offered. Retirement plan advisers and service providers are well positioned to help employers determine the program that is right for their employees. Just as medical plans are supported by a wellness program, healthy retirement plans should be undergirded by a financial wellness program,” says Troy L. Redstone AIF®, CFEI®, CBFA® of PHD Retirement Consulting and President of the Council.
Employee stress has increased over the last decade. The economic downturn associated with the COVID-19 pandemic has made the burden of debt and the lack of emergency savings very stressful for US workers suddenly. “Financial wellness programs are more critical than ever given the unprecedented toll the current coronavirus has on work, finances, health and social engagement.” says James D. Robison AIF® of Strategic Retirement Partners, a member of the Board of the Council and of the editorial board that helped formulate the guide.
This VIEWPOINT is the first of seven the Retirement Advisor Council plans to publish in 2020 to guide employers and their financial advisors through the construction of financial wellness programs. Future VIEWPOINTS will examine the return of investment to the employer of a financial wellness program, and how to tailor a program to the unique concerns of various segments of the workforce such as women, new entrants and executives.
About The Retirement Advisor Council
Formed in 2009, the Retirement Advisor Council is a national organization that advocates for successful qualified plan and participant retirement outcomes through the collaborative efforts of experienced, qualified retirement plan advisors, investment managers and defined contribution plan service providers. To advance its mission, the Council undertakes initiatives in the areas of research, public relations and promotion, general public education, regulatory positions and practice management. The Council accomplishes this mission by:
- Identifying duties, responsibilities, and attributes of the Professional Retirement Plan Advisor.
- Sharing professional standards with plan sponsors who are responsible for the success of their plans.
- Providing collective thought capital to decision makers, product providers, legislators and the public.
- Giving voice to the retirement plan advisor community
- Offering tools to evaluate advisors to ensure the quality of services provided.
Retirement Advisor Council is a brand of EACH Enterprise, LLC. Learn more at www.retirementadvisor.us