Advisors working with the Capital Group will have access to an extended financial wellness coaching benefit to offer their retirement plan sponsor clients.
After a successful initial program, the investment firm that is home to American Funds is extending its partnership with Financial Finesse, a leading provider of financial wellness coaching benefits.
The initial program was open to select Capital Group DCIO clients in the midsize plan sponsor market and PlanPremier full-service record-keeping clients in the large plan sponsor market.
The outcome was a boost for advisor businesses and increased participation in workplace financial wellness by 38% within 15 months, well above the industry average, according to Financial Finesse.
Among those with participants in the initial program was Sean Bjork, president of Bjork Asset Management Inc., who said that it was a game changer that met client demand.
“The ability to help the American worker build a solid financial foundation through the workplace and at scale has absolutely changed our positioning in the marketplace and the value we’re able to bring to our interactions with plan sponsors, plan participants, and their families,” Bjork said in a statement.
Morgan Stanley recently reported that younger workers are being left behind despite a rise in financial wellness at work.
With the expanded program, prospective Capital Group clients in the large plan sponsor market will have access to tools including Financial Finesse’s digital financial wellness hub and virtual financial coaching, with no additional cost for plan sponsors or their participants.
“Integrating financial wellness into Capital Group’s offering to support participants, plan sponsors, and our intermediary clients is a critical component of improving participant outcomes as we continue to expand access to savings through employer-sponsored retirement plans,” said Brendan Mahoney, head of institutional retirement strategic growth at Capital Group.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
