HUB’s Retirement and Private Wealth division recently announced the launch of HUB FinPath, a financial wellness service that partners with plan sponsors to provide workers with “access to financial coaches, unbiased guidance, and a suite of interactive learning and planning tools.”
“HUB noted that 80% of employers report financial stress is lowering their employees’ performance level.”
Citing International Foundation of Employee Benefit Plans (IFEBP) research, HUB noted that 80% of employers report financial stress is lowering their employees’ performance level and costing them nearly half a trillion dollars annually.
“Employers are increasingly focused on the financial wellness of their employees and are looking to invest in the financial health and resilience of their people,” Joe DeNoyior, President of HUB RPW, said in a statement. “With HUB FinPath, we are helping employers round out their benefits that they can leverage to attract, retain and engage their best workers, as well as boost their employee’s overall wellness.”
HUB FinPath is an interactive online learning center with Certified Personal Financial Counselors (CFP). It “empowers plan advisors and HR to work together and provide resources to help employees address key needs such as emergency savings, budgeting & spending, security & protection, credit score improvement, retirement planning, and debt management,” according to the company.
How HUB FinPath works
According to HUB, the new service does the following:
- Access to one-on-one confidential meetings with a certified HUB FinPath Financial Coach who can explain things in a way that a video or learning module cannot. Coaches do not work on commission and are completely unbiased – they are simply there to help. Coaches are available in person, via phone, email, video chat, or employee preference.
- Live and on-demand interactive courses on topics that matter most to employees, such as using credit as a financial tool or tips for maximizing paychecks. HUB FinPath Financial Coaches design the courses.
- More than two dozen financial health online tools to help employees achieve their goals, manage and reduce debt, get control of spending, and plan for emergencies.