FINANCIAL WELLNESS
financial wellness program beyond basic
retirement saving instruction. This is up
from just 30 percent of employers in 2014. 1
FINANCIAL WELLNESS PROGRAMS CAN
PROMOTE EMPLOYEE RETENTION.
When workers have money issues in their
lives, both their health and performance
may suffer. They may try to find a higher-
paying job, effectively reducing their
commitment to their current one.
FUNDAMENTALLY, THESE PROGRAMS
TEACH FINANCIAL LITERACY.
Most people need more of that, including
high earners. Corporations such as
Activision Blizzard, Havertys Furniture,
Home Depot, and Waffle House have
installed such programs and made them
free to employees wanting insight on
everything from handling student-loan
debt to college planning to making long-
term-care insurance choices. 1,2
SMALL BUSINESSES ARE OFFERING
THESE PROGRAMS, TOO.
Financial services professionals are coming
forward to work with established and
emerging companies seeking a perk to
attract first-rate employees. This financial
coaching can take many forms, from
group education to highly individualized
counseling with the financial consultants
assuming a fiduciary duty. Businesses
would do well to ask about it, as employee
loyalty is priceless.
PLAN SPONSORS MAY ALSO
POTENTIALLY LOWER THEIR FIDUCIARY
RISK BY PUTTING SUCH PROGRAMS
INTO PLACE.
If employees change their financial
behaviors and believe that they are
improving their personal finances as an
effect of a financial wellness program, they
may be less inclined to complain about
a company’s retirement plan offering (or
worse, initiate legal action on the grounds
that the plan sponsor failed to meet its
fiduciary responsibility). No business
wants that.
DOES YOUR COMPANY LACK A
FINANCIAL WELLNESS PROGRAM?
Securities offered through Cambridge Investment Research,
Inc., a Broker/Dealer, Member FINRA/SIPC.
Investment Advisory Services offered through Cambridge
Investment Research Advisors, Inc., a Registered
Investment Advisor.
Marcotte Wealth Management, LLC and Cambridge are
not affiliated companies.
This material was prepared by MarketingPro, Inc., and
does not necessarily represent the views of the presenting
party, nor their affiliates. All information is believed to be
from reliable sources; however we make no representation
as to its completeness or accuracy. Please note - investing
involves risk, and past performance is no guarantee of
future results. The publisher is not engaged in rendering
legal, accounting or other professional services. If
assistance is needed, the reader is advised to engage the
services of a competent professional. This information
should not be construed as investment, tax or legal advice
and may not be relied on for the purpose of avoiding any
Federal tax penalty. This is neither a solicitation nor
recommendation to purchase or sell any investment or
insurance product or service, and should not be relied upon
as such. All indices are unmanaged and are not illustrative
of any particular investment.
1 - Veronica Dagher, “The Latest Office Perk: Help Managing Your
Financial Life,” Wall Street Journal, June 11, 2017, tinyurl.com/
yapwrg4d.
Consider establishing one in the near
future. If your competitors have not yet
taken that step, chances are they soon will.
2 “Companies Offer ‘Financial Wellness’ Programs as a Job Perk,”
Marketplace (website), July 11, 2017, marketplace.org/2017/07/11/
business/companies-offering-financial-wellness-programs-perk-job.
Paul Rahn may be reached at
402-970-3358
or prahn@
marcotteins.com +
Paul Rahn is a Financial Advisor with the Wealth Management
team at Marcotte. As a Financial Advisor, he provides
Financial Wellness Programs to our clients’ workforce,
Individual Financial Planning and assists business owners
with Buy/Sell Exit Planning strategy. Paul has been involved
in Finance for over seven years. He brings a straightforward
approach to money management that fits perfectly with
Marcotte’s commitment to providing creative solutions for
our client partners. Paul currently has his Series 7, 66, Life,
Health and Annuities licenses. When he’s not at work, Paul
enjoys running, climbing, and spending time with his wife and
two daughters.
Bethany Lutheran Home
Short-Term Rehabilitation, Long-Term Care and Memory Care
7 Elliott Street | Council Bluffs, IA | (712) 328-9500
Bethany Heights
Offers Assisted Li
ving,
Independent Livi
ng &
NOW Respite Ca
re
Bethany Heights
Senior Living Community
11 Elliott Street | Council Bluffs, IA | (712) 328-8228