Alight Solutions, proprietor of the unique Alight Solutions 401(k) Index, something we shouldn’t watch too closely but nonetheless do, announced that Advizr WorkPlace has been selected to provide its clients’ employees with access to Advizr’s financial management and planning technology.
Advizr WorkPlace will be an available option among Alight’s suite of existing financial wellbeing solutions.
Advizr provides employees with “a consumer-oriented design, engaging interface and powerful planning to help employees navigate important issues including debt management, budgeting, protection, college savings, retirement planning and more,” according to the company.
“We are providing employers the tools to enhance the financial wellbeing of their workforce through a scalable and intuitive solution with our goals-based holistic financial planning technology,” Hussain Zaidi, CEO of Advizr, said in a statement. “Our self-directed workflows and modular planning are an ideal fit for the employee benefits space, allowing users to take charge of the financial goals that are most important to them.”
Accelerating the adoption of financial planning technology is a critical step toward helping employees plan for their financial goals, make educated financial decisions, manage their financial situation and build their assets, he notes.
The personal experience Advizr provides allows users to assess spending, manage debt, evaluate life insurance coverage needs, prioritize and track goals and build a plan for their unique financial objectives and to evaluate ‘what if’ scenarios. Research continues to prove that reducing financial insecurity leads to improved employee productivity, morale and retention, while lowering rates of absenteeism and healthcare expenditures.
“At Alight, we believe that helping people better manage their broad financial health—from day-to-day budgeting, to saving for retirement—is imperative to helping people thrive,” Cindy Shearer, vice president at Alight added. “We are pleased to add Advizr’s technology-centered platform to our suite of financial wellbeing capabilities to help our clients’ people make more informed financial decisions.”
To date, three Alight clients, representing over 500,000 employees, have implemented Advizr Workplace.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.