PLANADVISER - September/October 2021 - 36

managing relationships / financial wellness
Different Strokes
Great wellness strategies require much analysis on the part of advisers and clients
A
s one adviser puts it, plan sponsors
have been working harder
lately to help their plan's participants
improve their finances. " We're
seeing an increasing trend in plan
sponsors putting a concentrated effort
into their employees' financial wellbeing, "
says Ken Etheredge, director of
BOK Financial Retirement Plans and
Asset Services in Tulsa, Oklahoma.
" Plan sponsors are looking at a holistic
approach to education, and the need
has definitely been amplified by the
pandemic. "
As plan sponsor financial wellness
programs expand to include student
loan repayment assistance and cybersecurity
policies to keep employee
information safe, plan advisers are
selecting and tailoring programs based
on the needs of each client's particular
workforce.
An adviser has numerous roles to
play in helping plan sponsors select,
fine tune and manage a financial
wellness program. First of all, there
are many types of programs-and
providers-from which to choose.
The scope of offerings available can
be overwhelming, and advisers should
avoid recommending the newest or
trendiest solution. Instead, opt for
covering the necessities, says Katie
Hockenmaier, U.S. defined contribution
(DC) research director at Mercer
in San Francisco.
" What we advise
is actually understanding what your
participant population needs.
[Financial
wellness] can be a really vast topic,
but what we try to encourage is understanding
your employee base, to help
define what financial well-being means
for the specific population. "
When plan sponsors ask for assistance
in selecting and implementing
a financial wellness program, the
adviser can aid in surveying the
client's
employees
about
the
state
of their finances, health and stress,
which is key to the program's success,
says Celeste Revelli, director, financial
36 | planadviser.com September-October 2021 Art by Scott Bakal

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PLANADVISER - September/October 2021

Table of Contents for the Digital Edition of PLANADVISER - September/October 2021

Masterminds of the Plan
"PLANADVISER’s 2021 Top 100 Retirement Plan Advisers"
How to Optimize Connections
Defining Roles
Building Strategic Partnerships
Different Strokes
Cybersecurity Considerations
Provider Recommendations
PLANADVISER - September/October 2021 - Cover1
PLANADVISER - September/October 2021 - Cover2
PLANADVISER - September/October 2021 - 1
PLANADVISER - September/October 2021 - 2
PLANADVISER - September/October 2021 - 3
PLANADVISER - September/October 2021 - 4
PLANADVISER - September/October 2021 - 5
PLANADVISER - September/October 2021 - 6
PLANADVISER - September/October 2021 - 7
PLANADVISER - September/October 2021 - 8
PLANADVISER - September/October 2021 - 9
PLANADVISER - September/October 2021 - 10
PLANADVISER - September/October 2021 - 11
PLANADVISER - September/October 2021 - 12
PLANADVISER - September/October 2021 - 13
PLANADVISER - September/October 2021 - 14
PLANADVISER - September/October 2021 - 15
PLANADVISER - September/October 2021 - 16
PLANADVISER - September/October 2021 - 17
PLANADVISER - September/October 2021 - Masterminds of the Plan
PLANADVISER - September/October 2021 - 19
PLANADVISER - September/October 2021 - 20
PLANADVISER - September/October 2021 - 21
PLANADVISER - September/October 2021 - "PLANADVISER’s 2021 Top 100 Retirement Plan Advisers"
PLANADVISER - September/October 2021 - 23
PLANADVISER - September/October 2021 - 24
PLANADVISER - September/October 2021 - 25
PLANADVISER - September/October 2021 - 26
PLANADVISER - September/October 2021 - 27
PLANADVISER - September/October 2021 - How to Optimize Connections
PLANADVISER - September/October 2021 - 29
PLANADVISER - September/October 2021 - 30
PLANADVISER - September/October 2021 - 31
PLANADVISER - September/October 2021 - Defining Roles
PLANADVISER - September/October 2021 - 33
PLANADVISER - September/October 2021 - Building Strategic Partnerships
PLANADVISER - September/October 2021 - 35
PLANADVISER - September/October 2021 - Different Strokes
PLANADVISER - September/October 2021 - 37
PLANADVISER - September/October 2021 - Cybersecurity Considerations
PLANADVISER - September/October 2021 - Provider Recommendations
PLANADVISER - September/October 2021 - 40
PLANADVISER - September/October 2021 - Cover3
PLANADVISER - September/October 2021 - Cover4
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