Products September 27, 2016

CFP, FPA and Others Team to Deliver Free Advice

A group of financial adviser certification and advocacy groups are teaming up with local governments across the U.S. to provide no-cost financial planning throughout October. 

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The Certified Financial Planner Board of Standards, Inc. (CFP Board), Financial Planning Association (FPA), Foundation for Financial Planning and the U.S. Conference of Mayors announced a joint program known as Financial Planning Days, aimed at delivering free financial advice and boosting community engagement.

Throughout October, the groups will host 22 one-day events in cities across the U.S. On those days, hundreds of CFP professionals will partner with local city governments and gather in designated schools, municipal buildings, and libraries to offer free financial counsel to area residents.

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“The mission of the initiative is to bring free, ethical financial planning advice to the public through one-on-one advising sessions and group workshops,” the groups explain. “Highly qualified CFP professionals will volunteer their time and offer no-strings-attached advice. These professionals will not distribute business cards, take names, or sell financial products or services.” 

In one-on-one consultations, financial planners are seated at tables and meet privately with individuals and couples to answer questions on budgeting, managing credit, getting out of debt, income taxes, home ownership, planning and paying for college, estate planning, insurance and many other topics. Free classroom-style workshop presentations covering key areas of personal finance are also available.

Free registration is available at www.FinancialPlanningDays.org or by calling toll-free at 1-877-861-7826. Walk-ins are also welcome. Events are planned in the following metro areas:

Akron, Ohio: October 1

Arlington, Virginia: October 22

Atlanta, Georgia: October 8

Baltimore, Maryland: October 29

Chicago, Illinois: October 8

Cincinnati, Ohio: October 8

Lakewood, Colorado: October 22

Milwaukee, Wisconsin: October 22

San Francisco, California: October 22

West Sacramento, California: October 22

Columbus, Ohio: October 5

Los Angeles, California: October 29

Oakland, California: October 15

San Rafael, California: October 29

Huntington Beach, California: October 15

Lubbock, Texas: October 8

Rosemead, California: October 23

St. Paul, Minnesota: October 29

Products September 27, 2016

WorkPlace Exchange to Open Communications Between Plan Sponsors

Through this new platform, retirement plan sponsors can exchange best practices for educating participants and boosting engagement.
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Corporate Insight has launched the WorkPlace Exchange platform, which will allow retirement plan sponsors to confidentially communicate with other sponsors to trade ideas on how best to educate and motivate plan participants.

“By showcasing successful techniques from innovative sponsors, we are helping all plans improve participant engagement that can translate into increased contribution rates—and overall retirement readiness,” says Drew Maresca, research director for WorkPlace Exchange.

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The subscription-based service will also provide sponsors with access to original surveys, and proprietary research analyzing the participant and plan sponsor experience. Corporate Insight will periodically publish sponsor-led studies and a quarterly newsletter assessing communications and campaigns.

“By synthesizing complicated campaign strategies, WorkPlace Exchange will add significant value for sponsors,” says Dana Peterson, vice president of monitor services at Corporate Insight. “Currently, there is nothing else like it in the marketplace.”

According to survey data cited by Corporate Insight, only 6% of plan sponsors that view retirement income solutions favorably have surveyed their participants. The firm notes, however, that communications budgets are fairly common with 43% of respondents from a 2015 survey reporting that they have a budget, and 20% indicating that they anticipate a larger one in 2016 versus 2015. Corporate Insight intends to deliver WorkplaceExchange to help plan sponsors make the most out of these budgets.

More information about Corporate Insight is at http://corporateinsight.com/.

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