StraightLine Group LLC, an independent SEC registered investment advisor (RIA) and financial planning firm, is integrating financial wellness education with its traditional financial planning and investment advisory services. StraightLine has built this offering in collaboration with Financial Wellness Labs, Inc., the parent company of Questis, an evidence-based financial wellness platform that combines technology with access to certified financial coaches.
“We’re excited about our relationship with StraightLine, which exemplifies how our financial wellness platform can be integrated with fiduciary advisory services to make a real difference,” said Lynn Raynault, CEO & co-founder of Financial Wellness Labs. “We believe StraightLine’s approach represents a best practice for driving engagement, helping participants manage day-to-day financial stresses while preparing for longer-term goals such as retirement.”
While StraightLine works with employees across all types of retirement plans, 403(b) plans have become one of the firm’s core areas of expertise. The firm has a long history of serving faculty and staff at colleges, universities, and nonprofit institutions, and regularly works with plans administered by leading providers in the 403(b) space, including both TIAA and Fidelity.
“We expect this enhanced approach will help recognize that every employee is on a unique financial journey,” stated Mike Bisaro, AIF, president and CEO of StraightLine. “By bringing financial wellness, financial planning, and participant-level investment advice together, we can deliver a full spectrum of advice and education that ranges from foundational financial coaching to fiduciary investment advisory services.”
StraightLine expects the new structure to support employee wellbeing, workforce resilience, and retirement readiness, while helping organizations attract and retain top talent. It also believes the model to be particularly effective in nonprofit, academic, and healthcare sectors “because major recordkeepers such as TIAA and Fidelity provide the infrastructure needed to deliver independent RIA services at the participant level,” the organization stated.