Fidelity Tailors Financial Wellness to Each Individual

Fidelity has unveiled a personalized financial wellness solution that uses new digital technology to help employees assess their individual financial wellness needs. Available through Fidelity’s NetBenefits employee benefits portal, it provides education and guidance on a broad range of financial topics at different career and life stages.

The solution leverages data and information on each employee to develop a personalized action plan. It covers 30 different areas, including employee benefits (workplace savings plans, company stock plans, charitable gift programs), budgeting and debt (student debt, mortgages, emergency savings, debt counseling), saving and investing (college savings, individual retirement accounts, annuities, brokerage accounts) and protection (long-term care, estate planning, identity protection, life insurance).

Using Fidelity’s Money Checkup, employees can generate a personalized financial wellness score by answering questions about their background, lifestyle, savings, spending, financial goals, financial concerns and thoughts about their future.

The solution also connects employees with tools, information and products that can help them get started and take immediate action to address their top financial challenges. These solutions include online tools and calculators, webinars and informational articles as well as products from Fidelity and third-party providers.

“Financial wellness programs are an excellent way to help employees build confidence and improve their overall financial picture, as well as help employers address key workforce priorities, such as retaining top talent,” says Kevin Barry, president of Workplace Investing at Fidelity Investments. “According to Fidelity research, more than half of employees indicated they were more likely to stay with their employer if they had access to more financial help. However, since each person is unique and has a unique set of financial goals and challenges, Fidelity’s financial wellness program provides a personalized experience targeted to the needs of each employee.”