Design your financial wellness program to do more than “educate” employees about finance. Design it to effect behavioral change.
We are in the Wild West phase of financial wellness. No one area of financial wellness is emphasized by a majority of employers. For employers tackling financial wellness in these early stages, here’s my advice for cutting through the confusion.
With the advent of artificial intelligence, which can identify patterns and relationships on a scale impossible for humans, institutions finally have the opportunity to overcome one of the biggest obstacles to engaging clients in their own financial wellness: the challenge of providing each client with the highly personalized, actionable advice they need, in the exact moment they need it.
To give everyone the financial advice and tools they deserve – that will engage and empower them to improve their situation – we need to meet each individual where they are, and offer them the actionable advice they need, in the moment they need it.