Council Publishes Research Report to Help Retirement Plan Sponsors Monitor Employee Engagement in Financial Wellness Programs

East Granby, CT - January 14, 2021 - The Retirement Advisor Council announces publication of its Research Report, “Advisors Take Steps to Measure Employee Engagement in Financial Wellness Programs.”

The Research Report posted HERE helps retirement plan sponsors design a Financial Wellness Program Management Dashboard based on the practices of leading retirement plan advisors. The report provides a framework for monitoring progress and guides plan sponsors on the key indicators to monitor. One strategy for the most committed employers to drive engagement in Financial Wellness programs is to implement a rewards or points program that incents employees to use the program. Leading advisors surveyed in this report say that, on average, 19% of their clients with a Financial Wellness program use a rewards or points program to stimulate participant engagement. Programs such as these have been quite successful on the healthcare front, where employees earn points for having regular medical checkups or going to the gym. They make just as much business sense in helping employees achieve and maintain Financial Wellness.

"I see more firms become interested in these programs,” says Mark Ratay, CIMA®, PRP®, Senior Vice President, Financial Advisor, and Corporate Retirement Director at Morgan Stanley. “Firms with younger employees and more professional groups seem to be more interested.” The Research Report advises sponsors to not merely monitor their Financial Wellness program, but to drive participation. “Pushing the offering out to the people as opposed to letting them know it is there,” says Ratay.  Wendy Daniels, VP and Director of Retirement Strategy & Not-for-Profit Practice Leader at Transamerica adds, “Financial wellness and well-being have garnered increased attention in recent years. Employees who experience financial difficulties during their working years are often unable to save and prepare adequately for retirement.”

About The Retirement Advisor Council

Formed in 2009, the Retirement Advisor Council is a national organization that advocates for successful qualified plan and participant retirement outcomes through the collaborative efforts of experienced, qualified retirement plan advisors, investment managers and defined contribution plan service providers.  To advance its mission, the Council undertakes initiatives in the areas of research, public relations and promotion, general public education, regulatory positions and practice management.  The Council accomplishes this mission by:

  • Identifying duties, responsibilities, and attributes of the Professional Retirement Plan Advisor.
  • Sharing professional standards with plan sponsors who are responsible for the success of their plans.
  • Providing collective thought capital to decision makers, product providers, legislators and the public.
  • Giving voice to the retirement plan advisor community
  • Offering tools to evaluate advisors to ensure the quality of services provided.

Retirement Advisor Council is a brand of EACH Enterprise, LLC.  Learn more at



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