There’s a very real danger that financial wellness programs will flame out with employers. That’s because they are designed to educate, not change employee behavior.
Without metrics to show behavior change (e.g. open a new 401(k), HSA, emergency savings account + income flowing into those accounts), employers will sour on these programs. And it could happen before financial wellness gains real traction.
I just sat down to discuss these dangers and how advisors can counter the trend of low or no impact financial wellness programs. Check it out our recent video interview with Fred Barstein for 401kTV.