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What have you done for your employees lately?

Give them tools and advice to effectively craft a retirement-readiness strategy by forming a strong relationship with independent financial planners.

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Oct 30, 2023
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Last updated on Oct 02, 2023

In the wake of the COVID-19 pandemic, we’ve seen a turn of the tide as more employers have recognized the value of mental health in the workplace. While there are many forms of mental stress, one prevalent and pressing concern has been finances. In addition to the turbulence it causes in one’s personal life, resulting disturbances in the workforce have been disruptive at best, and caused a total breakdown in
productivity at worst.


“One in three full-time employees says that money worries have negatively impacted their productivity at work...Among financially stressed employees who are distracted at work because of their finances, 56% spend three hours or more per week at work dealing with or thinking about issues related to their personal finances.” 1


According to the nudge Global financial wellbeing report 2023, data demonstrates that financial education has become a business imperative. “Recent research shows that loyal, engaged employees are more productive, leading to dramatic increases in profitability. But the reverse is also true: When employers don’t have loyalty, employees are disengaged and more likely to leave the organization.” 2

Employee wellness to the rescue!

Many employees reach out to human resources teams for financial planning and guidance. Today, more employees use financial services provided by their employer than in previous years.


The employer is often considered a trusted guide to plan for their financial future. Employees benefit from the employer’s vetting of experienced financial professionals. The transfer of credibility goes a long way in making the employee feel comfortable.

With opportunity comes challenge

Questions posed to the management team start at health insurance and 401(k) benefits, and stretch to a whole myriad of issues: college planning for children, retirement savings, proper insurance protection and more.

Unfortunately, most HR professionals, executive teams, CFOs and the general “right-hand person” are frequently ill-equipped to answer these questions. Even if they were, there is the invisible line of confidentiality and comfort where an employee wants guidance from management without divulging personal financial details.

Enter independent financial planners

We are not telling employees anything they don’t know. There is a fundamental difference between direction and action. We, in the retirement plan industry, should stop lecturing plan participants about the need to save; they already know that. Instead, we should give them tools and advice to effectively craft a retirement-readiness strategy, including how to manage debt, build emergency savings to help prepare for financial shocks and balance retirement commitments with multiple, competing financial goals. Qualified independent financial professionals are a helpful resource for an employer. Financial professionals can offer objective one-on-one guidance to address specific needs, help accomplish long-term goals, and avoid potential pitfalls.


Areas of exploration should include:
- Budgeting
- Financial protection
- Wealth management
- Tax planning strategies
- Estate planning

At Fortis Lux, we believe financial decisions, even as simple as how much to contribute to a 401(k), should not be made in a vacuum. These choices need to be part of a comprehensive plan that addresses all of the employee’s needs.

To discuss how our experienced financial planners can help your organization, please contact us at Cdweck@fortislux.com or 212-578-4436.

1 PwC’s 2023 Employee Financial Wellness Survey

https://www.pwc.com/us/en/services/consulting/business-transformation/library/employee-
financial-wellness-survey.html

2 https://5228958.fs1.hubspotusercontent-
na1.net/hubfs/5228958/2023%20Global%20financial%20wellbeing%20report/nudge_Global%20financial%20wellbeing%20report_2023.pdf?__hstc=17867942.5cd1b0d349e24e48a142f8f1a6 6fcda8.1692963198925.1692963198925.1692963198925.1&__hssc=17867942.1.16929631989
25&__hsfp=551255700


This information is for educational purposes only. This is not intended to provide and cannot be relied upon as, legal or tax advice. We suggest that you consult with your own legal and tax professional as part of this process. Any legal agreements entered into with other financial professionals are soley between you and those individuals. The views expressed are those of Charles Dweck and Matthew DelPriore only. Any examples are generic, hypothetical and for illustrative purposes only.


Securities, investment advisory and financial planning services through qualified registered representatives of MML Investors Services, LLC. Member SIPC. www.SIPC.org 420 Lexington Ave, Suite 2510 New York, NY, 10170. (212) 578-0300. CRN202608-4819776

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