Plexus Financial Services Teams Up with iGrad to Offer the Enrich Personalized Financial Wellness Program to Its Over 25,000 Participants
Summary
The platform also provides:-Financial education courses with personalized action plans on topics including budgeting, mortgages, healthcare, college savings, student loan repayment, banking, credit, financial planning, retirement savings, and more:-Retirement and home affordability analyzers.-A suite of student loan and higher education tools.-Personal finance calculators and a real-time budget tool.“We want to help all employees get their financial house in order, not just those participating in the retirement plan,” said Plexus Financial Services Executive Vice President Allison Winge. The 2022 PwC Employee Financial Wellness Survey revealed that nearly half of 3,000 surveyed adults said money worries had a “severe or major impact” on their mental health over the past year.Enrich data from January 2020 to December 2021 found significant increases in financial wellness among its users:-35 percent increase in users who reported that they are on track with saving for their goals.-14 percent increase in users who are contributing to their retirement savings plan.-59 percent increase in users who had built up an emergency savings of at least three months of living expenses.-28 percent increase in users who pay off credit card debt in full monthly.The Enrich data showed that users who reported lower financial stress said that decrease was substantial–nearly 32 percent. “Our program helps to meet people where they are at with scale and efficiency and allows the Plexus team to provide additional value as a retirement plan advisor.”About iGradiGrad is a San Diego-based financial technology company that provides artificial intelligence-powered financial wellness solutions to more than 2.7 million students at 650 colleges and universities, over 20,000 employers and over 300 financial institutions. iGrad recently received the 2022 Eddy Award for Financial Wellness by Pensions & Investments for its Enrich platform. For more information about the Enrich platform for employers and financial institutions, visit http://www.enrich.org.