ABG of Michigan (ABGMI) has announced the launch of “fly!” (Financial Literacy for You), a comprehensive financial wellness plan offering to help employees learn about managing their personal finances so they can better position themselves to secure their financial future.
According to an announcement, the firm plans to work with each company and their financial advisor to design a custom program based on the client’s goals, objectives and employee demographics. Implementation will consist of a collaboration between ABGMI and financial advisors to present meetings, webinars, email and messaging campaigns, and one-on-one personal chats. In addition, the firm plans to monitor and assess progress and periodically recommend changes to improve outcomes.
The firm notes that the need for financial wellness programs stems from the reality that too many people carry enormous debt, struggle to budget, have no emergency savings and are in no position to take advantage of their company’s retirement plan. As a result, employees don’t save, employers have a harder time reaching their goals, and retirement plan and investment professionals have a harder time helping both employers and employees succeed in creating retirement income.
Carol Tracey, ABGMI Executive Vice President and Principal, summed up the firm’s perspective: “We believe financial wellness is a process, not a subscription, and together with our advisor partners, we can deliver real value. We have no interest in being just one more offering. We’re here to make a difference.”
