Franklin Templeton has partnered with financial education company iGrad to develop a financial wellness digital platform designed for financial professionals to share with defined contribution plan sponsors and participants.
Powered by iGrad’s Enrich financial wellness solution, the MyFi Guide features the Your Money Personality financial behavior assessment, along with:
- financial education courses with personalized action plans;
- retirement and home affordability analyzers;
- a suite of student loan and higher education tools; and
- personal finance calculators and a real-time budget tool.
Employers and financial professionals can play important roles in reducing the financial stress of their employees and clients, Franklin Templeton emphasizes in its announcement, further noting that nearly 85% of Americans say they are stressed about personal finances, according to an October 2020 survey by the National Endowment for Financial Education.
“We know that successful retirement planning is not an isolated exercise. It is connected to overall financial well-being and developing good financial habits,” says Yaqub Ahmed, head of Franklin Templeton’s U.S. Retirement and Insurance. “Through MyFi Guide we will help financial professionals take personalization at scale beyond investments to the financial goal level.”
“Our goal is to help financial professionals and employers deliver better outcomes to employees in the workplace through an ecosystem of digital solutions that address a range of financial challenges and goals,” adds Harshendu Bindal, Franklin Templeton’s Managing Director, Digital Strategy and Wealth Management. “We aim to achieve this through strong partnerships with companies like iGrad who have a differentiated expertise in their area of focus.”
