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RIA Launches Initiative to Increase Financial Literacy in the Workplace

Overland Park, Kansas, April 27, 2018 - Resources Investment Advisors, Inc. a collaborative partnership of independent financial advisors based out of Overland Park, Kansas will launch a financial wellness solution called Financial Elements on May 1, 2018.

This wellness program is purchased by employers who experience the soft and hard costs of high-turnover, absenteeism and financial hardship of their employees. Financial Elements breaks down financial concepts into elements to increase financial literacy and reduce employee financial stress through education and behavioral coaching.

As has been highlighted throughout the month of April, National Financial Literacy Awareness month, the majority of Americans suffer from financial stress. According to PwC's 2017 employee financial wellness report,

- 52% of employees are stressed about their finances

- 28% of financially stressed employees are distracted at work

- 46% of distracted employees spend over 3 hours per week on personal finances at work

Financial Elements wellness program targets employees on an individual level to identify and change behaviors that impact each employee’s financial literacy and wellness.

First, through an online assessment, mentors (financial professionals) identify the state of each employee’s financial health.

Second, mentors who provide personalized financial guidance introduce ‘the human element’ by reaching out to employees to address elements such as budgeting, retirement planning, debt, and investment counseling.

Finally, through periodic check-ins and goal setting, mentors assist employees in sticking to their financial plans, thereby changing behavior, and easing financial stress.

This program utilizes technology and off-site mentors to work with employees and provides the flexibility, accountability and comfort of working with a financial personal trainer over the phone or email.

“We are in the retirement plan business but noticed a trend in the level of savings and engagement of the employees in the plans. As a group we decided that unless we were working to address the root causes of financial hardship impacting plan sponsors we were not doing everything we could to help participants prepare for a secure retirement” said, Vince Morris, President and CEO of Resources Investment Advisors.

Additional details about the program can be found at www.financial-elements.com.

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