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Products March 11, 2022
intellicents Offers Financial Planning for Participants Through New App
The lifesteps app collects participant data to provide a foundational financial plan for every participant.
Reported by PLANSPONSOR Staff
intellicents has launched a new financial planning mobile application called lifesteps.
The app provides foundational financial planning to every plan participant, making financial planning a new employee benefit, according to the firm.
intellicents partnered with eMoney Advisor on the app’s development. “This app allows us to provide more plans to more people,” says Chad Porche, vice president of product innovation at eMoney. “By pairing technology with human providers, we’re offering experiences that are relevant and helpful to the needs and expectations of a diverse group of people. No matter where an individual is on their financial wellness journey, the app can help and provide access to a financial professional for expert guidance.”
Designed to be a participant-based financial wellness app that helps individuals achieve their financial goals and peace of mind, the app puts the retirement plan adviser at the center of solving this problem. “To truly be successful, these programs must be much more than pretty technology solutions focusing merely on education and attached to a 401(k) recordkeeping platform that prompts less than 10% of its participants to take any action,” says Brad Arends, co-founder and CEO of intellicents. “They must coordinate people smarts plus great technology that immediately engages the participant, motivates them to add additional information, and provides direct access to professional advisors and Certified Financial Planners for actual advice when desired.”
“Retirement, wealth and health are all converging in the employee benefits space, with worksite financial wellness being the mortar that binds them all together,” says Matt Twedt, president of intellicents. “Our new progressive lifesteps app allows us to collect participant data so that we can truly provide a foundational financial plan for every participant, yet deliver an integrated comprehensive financial plan for those that desire to go further and fill in the details. We believe financial planning will be the next big thing in employee benefits.”
More information about lifesteps is here.