Plexus Financial Services Teams Up with iGrad to Offer the Enrich Personalized Financial Wellness Program to Its Over 25,000 Participants
Enrich is used by more than 20,000 employers and more than 300 financial institutions nationwide, with artificial intelligence technology that engages each user with the most relevant content based on financial situation and stage of life.
San Diego, CA, March 27, 2023 --(PR.com)-- Plexus Financial Services has teamed up with San Diego-based financial education company iGrad to offer the award-winning Enrich™ financial wellness platform to its more than 25,000 participants.
Plexus Financial’s Enrich personalized financial wellness program features the Your Money PersonalityTM financial behavior assessment, which analyzes each user’s financial “personality” and then provides guidance on how to correct negative financial behaviors. The platform also provides:
-Financial education courses with personalized action plans on topics including budgeting, mortgages, healthcare, college savings, student loan repayment, banking, credit, financial planning, retirement savings, and more:
-Retirement and home affordability analyzers.
-A suite of student loan and higher education tools.
-Personal finance calculators and a real-time budget tool.
“We want to help all employees get their financial house in order, not just those participating in the retirement plan,” said Plexus Financial Services Executive Vice President Allison Winge. “Equipping all employees with a solution that meets them where they are in their financial journey will allow them to take control over their finances in the short term to achieve long-term retirement goals.”
Headquartered in Deer Park, Ill., Plexus Financial Services is an SEC-Registered Investment Advisory and a wholly owned subsidiary of The Plexus Groupe LLC, a privately held national insurance brokerage and risk management consulting firm.
Plexus Financial selected Enrich because it focuses on helping users change behaviors that are impeding financial success, Winge said.
“Enrich is unique because it gets to the root of how the individual user thinks about money, financial stressors and, most importantly, how to cope with and correct negative financial behavior,” Winge said.
The 2023 KeyBank Financial Mobility Survey found that 55 percent of Americans faced financial challenges over the past year, an 18 percent increase over the previous year. The 2022 PwC Employee Financial Wellness Survey revealed that nearly half of 3,000 surveyed adults said money worries had a “severe or major impact” on their mental health over the past year.
Enrich data from January 2020 to December 2021 found significant increases in financial wellness among its users:
-35 percent increase in users who reported that they are on track with saving for their goals.
-14 percent increase in users who are contributing to their retirement savings plan.
-59 percent increase in users who had built up an emergency savings of at least three months of living expenses.
-28 percent increase in users who pay off credit card debt in full monthly.
The Enrich data showed that users who reported lower financial stress said that decrease was substantial–nearly 32 percent. Nearly 36 percent attributed that reduction in financial stress to using the Enrich platform.
Enrich is used by more than 20,000 employers and more than 300 financial institutions nationwide, with artificial intelligence technology that engages each user with the most relevant content based on financial situation and stage of life.
“Enrich uses an interactive, creative and personalized approach to financial wellness education that is proven to increase engagement, create positive behavior change and lower employee financial stress,” said Tim Delaney, iGrad vice president of business development for Enrich. “Our program helps to meet people where they are at with scale and efficiency and allows the Plexus team to provide additional value as a retirement plan advisor.”
About iGrad
iGrad is a San Diego-based financial technology company that provides artificial intelligence-powered financial wellness solutions to more than 2.7 million students at 650 colleges and universities, over 20,000 employers and over 300 financial institutions. iGrad’s Your Money Personality™ was recently recognized by the Institute for Financial Literacy with the 2020 Excellence in Financial Literacy Education (EIFLE) Adults’ Education Program of the Year award. iGrad is one of three 2020 honorees in the inaugural Barron's Celebrates: Financial Empowerment, after being selected by a team of judges for its contributions to improving the financial health and security of Americans. iGrad recently received the 2022 Eddy Award for Financial Wellness by Pensions & Investments for its Enrich platform. For more information about the iGrad platform, visit https://www.igradfinancialwellness.com. For more information about the Enrich platform for employers and financial institutions, visit http://www.enrich.org.
Plexus Financial’s Enrich personalized financial wellness program features the Your Money PersonalityTM financial behavior assessment, which analyzes each user’s financial “personality” and then provides guidance on how to correct negative financial behaviors. The platform also provides:
-Financial education courses with personalized action plans on topics including budgeting, mortgages, healthcare, college savings, student loan repayment, banking, credit, financial planning, retirement savings, and more:
-Retirement and home affordability analyzers.
-A suite of student loan and higher education tools.
-Personal finance calculators and a real-time budget tool.
“We want to help all employees get their financial house in order, not just those participating in the retirement plan,” said Plexus Financial Services Executive Vice President Allison Winge. “Equipping all employees with a solution that meets them where they are in their financial journey will allow them to take control over their finances in the short term to achieve long-term retirement goals.”
Headquartered in Deer Park, Ill., Plexus Financial Services is an SEC-Registered Investment Advisory and a wholly owned subsidiary of The Plexus Groupe LLC, a privately held national insurance brokerage and risk management consulting firm.
Plexus Financial selected Enrich because it focuses on helping users change behaviors that are impeding financial success, Winge said.
“Enrich is unique because it gets to the root of how the individual user thinks about money, financial stressors and, most importantly, how to cope with and correct negative financial behavior,” Winge said.
The 2023 KeyBank Financial Mobility Survey found that 55 percent of Americans faced financial challenges over the past year, an 18 percent increase over the previous year. The 2022 PwC Employee Financial Wellness Survey revealed that nearly half of 3,000 surveyed adults said money worries had a “severe or major impact” on their mental health over the past year.
Enrich data from January 2020 to December 2021 found significant increases in financial wellness among its users:
-35 percent increase in users who reported that they are on track with saving for their goals.
-14 percent increase in users who are contributing to their retirement savings plan.
-59 percent increase in users who had built up an emergency savings of at least three months of living expenses.
-28 percent increase in users who pay off credit card debt in full monthly.
The Enrich data showed that users who reported lower financial stress said that decrease was substantial–nearly 32 percent. Nearly 36 percent attributed that reduction in financial stress to using the Enrich platform.
Enrich is used by more than 20,000 employers and more than 300 financial institutions nationwide, with artificial intelligence technology that engages each user with the most relevant content based on financial situation and stage of life.
“Enrich uses an interactive, creative and personalized approach to financial wellness education that is proven to increase engagement, create positive behavior change and lower employee financial stress,” said Tim Delaney, iGrad vice president of business development for Enrich. “Our program helps to meet people where they are at with scale and efficiency and allows the Plexus team to provide additional value as a retirement plan advisor.”
About iGrad
iGrad is a San Diego-based financial technology company that provides artificial intelligence-powered financial wellness solutions to more than 2.7 million students at 650 colleges and universities, over 20,000 employers and over 300 financial institutions. iGrad’s Your Money Personality™ was recently recognized by the Institute for Financial Literacy with the 2020 Excellence in Financial Literacy Education (EIFLE) Adults’ Education Program of the Year award. iGrad is one of three 2020 honorees in the inaugural Barron's Celebrates: Financial Empowerment, after being selected by a team of judges for its contributions to improving the financial health and security of Americans. iGrad recently received the 2022 Eddy Award for Financial Wellness by Pensions & Investments for its Enrich platform. For more information about the iGrad platform, visit https://www.igradfinancialwellness.com. For more information about the Enrich platform for employers and financial institutions, visit http://www.enrich.org.
Contact
iGrad / Enrich
Jennifer Wezensky
269-274-4071
https://www.enrich.org
Jennifer Wezensky
269-274-4071
https://www.enrich.org
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