NAPA Net - Polling Places 051217

Is Financial Wellness Catching On With Your Clients?

The 8th annual survey on corporate Health and Well-being from Fidelity Investments and the National Business Group on Health found that 84% of large-and mid-sized company respondents now have financial security programs, such as access to debt management tools or student loan counseling, in their well-being strategies, up from 76% a year ago.

But that survey also suggests that financial wellness is a general term being applied to a wide variety of disparate programs, albeit with some commonality of focus.

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* 1. Are you pitching financial wellness to your clients/prospects these days?

Yes

It depends

Other (please specify)

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* 2. If you are "pitching" financial wellness to your clients/prospects, is it catching on?

Yes

Yes, for the most part.

It depends

Other (please specify)

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* 3. If you are encountering resistance, what is the most common reason?

Cost

Resistance to change

Not the right time

Combination of the above

Litigation concerns

Recordkeeper resistance

Deferred for future consideration

We're not encountering resistance

We're not offering financial wellness

Other (please specify)

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* 4. What do you consider to be the key elements of a financial wellness program (check all that apply)?

focus on outcomes/retirement readiness

debt management/reduction

budgeting

financial literacy

establishment of emergency savings reserves

all of the above

Other (please specify)

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* 5. What do your plan sponsor clients consider to be the key elements of a financial wellness program (check all that apply)?

focus on outcomes/retirement readiness

debt management/reduction

budgeting

financial literacy

establishment of emergency savings reserves

all of the above

Other (please specify)

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* 6. Are you incorporating all those elements at once, or are you bringing them in gradually over time?

all at once

one at a time

it depends

Other (please specify)

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* 7. Are you doing financial wellness alone, or are you partnering with someone?

on our own

with a partner

a little of both

we're not doing financial wellness

Other (please specify)

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* 8. If you are doing financial wellness with a partner, who is that partner(s)?

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* 9. Any other comments on financial wellness, recommending financial wellness, the response to financial wellness, or life in general?

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* 10. What is your role working with retirement plans?

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Other (please specify)

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* 11. What size plans do you PRIMARILY work with?

Under $10 million in assets

$10-$20 million

$20-$50 million

$50-100 million

$100 million - $250 million

$250 million - $500 million

Above $500 million

Other (please specify)

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* 12. Suggestions for future survey questions?

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* 13. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...