Two big names in 401k, ADP and Dave Ramsey’s SmartDollar, have announced they’re teaming up for a new financial wellness strategic relationship.
The companies note that unemployment in America is at its lowest level in sixteen years, but behind the good numbers looms a troublesome truth: Consumer debt has reached record levels.
Too many Americans are working without a solid financial plan, something the new initiative is meant to address.
“At ADP, we offer a holistic financial wellness program that can be customized to meet the workplace needs of employers and their employees,” Chris Luongo, division vice president of strategy, marketing, and business development at ADP Retirement Services, said in a statement. “We accomplish this by building relationships with providers, like SmartDollar specializing in delivering financial wellness solutions.”
“Most Americans are living paycheck-to-paycheck and nearly half couldn’t afford a $400 emergency without borrowing money” Brian Hamilton, vice president of SmartDollar, added. “Together, with the extensive reach of ADP, and easy access through the ADP Marketplace, more employees than ever can begin to use their most powerful wealth-building tool–their income to eliminate debt, save for the future, and be more productive at work.”
ADP offers payroll, benefits, regulatory compliance, talent management, and analytics.
More than 700,000 companies of all sizes around the globe rely on ADP cloud software and expert insights to help unlock the potential of their people and build a better workforce.
ADP Marketplace is an online storefront designed to help employers create HR ecosystems for their companies using solutions from ADP and leading third-party partners, enabling companies of all sizes to extend the value of their workforce solutions seamlessly across their entire organization via a secure, single-sign-on process.
SmartDollar is a financial wellness program that educates, inspires and empowers employees to proactively take control of their money and get on track for retirement.
Thousands of companies are currently offering SmartDollar as a benefit, giving both employers and employees a step-by-step plan, world-class content, and innovative tools to help people make smart decisions with their money, impacting families and businesses for generations.
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.
