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Jump into Financial Wellness in 2020 with Thoughtful Advisors

December 16, 2019

There is a great article on that is a summary of a lengthy white paper about improving 401k participant outcomes.  As a thoughtful gesture, I’ve composed this summary of the three primary areas for action steps to improve financial wellness in your workplace in 2020.

  1. Financial wellbeing

Identify the areas where employee financial stresses are occurring.  Consider providing employees decision support tools or financial coaching.  Employees favor in-person advice and guidance over webinars or handouts.

  1. Investment trends

Improve the quality of investments, asset allocation and reduce employee plan expenses to improve long term results.  This includes delegating investment decisions to experts who are fiduciaries and willing to do the work to help participants.

  1. Plan compliance

Create an on-going process to benchmark for fee, fiduciary and service levels provided.  Understanding what is available from providers and how it relates to what is currently in place is a best practice to adopt.

If you’d like to read the online summary, this is the link

Happy Holidays!!!


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