BrightPlan Introduces AI-Powered Financial Wellness Coach

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Aug 13, 2024, 09:00 ET

The Coach empowers employees around the world with 24/7 personalized financial guidance to improve overall wellness and financial health.

SAN JOSE, Calif., Aug. 13, 2024 /PRNewswire/ -- BrightPlan, a leader in total financial wellness for enterprise organizations, announced the launch of its new virtual Financial Wellness Coach. The generative AI-powered Coach provides immediate guidance directly to your workforce by incorporating each employee's unique financial situation and company benefits as quickly as they ask. The Coach strengthens employee engagement, retention, and benefits utilization globally while offering an unparalleled personalized experience for employee's financial needs.

All employees have to do is 'Just Ask,' and they'll get real-time, fiduciary guidance.

"Employees are significantly stressed out about their finances, and its impact on productivity and engagement for employers is only getting worse," said Marthin De Beer, Founder and CEO of BrightPlan. "This AI Coach will become the driving force behind an employer's wellness offerings by providing their employees immediate guidance for their personal financial needs, increasing visibility and adoption of benefits while reducing employee-related inbound questions."

Most HR teams are currently challenged with accomplishing more with fewer resources and a smaller budget. For these busy HR teams, the Coach will help to increase productivity and scale their efforts globally to deliver a consistent and unique employee experience. The Coach will support stronger benefit utilization, provide aggregated anonymous data trends back to the employer, and extend the reach of HR teams by providing expertise that gives both immediate and personalized responses representative of their company's culture.

BrightPlan's 2024 Wellness Barometer Survey shows employees, on average, are losing around seven hours of productivity per week. Employees are spending valuable time during business hours managing their finances, and financial stress is impacting their ability to stay focused and engaged. This overall productivity loss for organizations results in a potential loss of $200 billion annually to U.S. businesses. To make matters worse, the survey shows nearly 8 out of 10 survey respondents said they've received bad financial advice. And over half (55%) report that they've made financial mistakes based on the misguided information they've received.

Unlike some other generative AI solutions, the BrightPlan Financial Wellness Coach addresses these issues by providing employees with tailored and actionable guidance based on proprietary data, expert content, and the individual employee's personal financial situation. Employees can ask the Coach specific questions about their benefits offerings, such as, "How can I maximize my HSA benefit?" or a personally relevant question like, "I expect a major operation next year that costs $10,000. What are my health plan options?"

"Supporting your employees' financial health directly translates to increased loyalty, reduced turnover, and a more resilient and motivated team," continued De Beer. "By helping your employees to build a more financially secure future, you are making a strategic decision to positively impact your bottom line while improving culture."

For more information, visit www.brightplan.com.

About BrightPlan
BrightPlan is a global leader in Total Financial Wellness. The company provides a comprehensive global solution that addresses all aspects of employees' financial health at every stage of life and empowers HR teams to enhance the employee experience and better attract, retain, and engage talent. The unique combination of its digital platform and expert financial planners enables employers to deploy financial wellness solutions at scale while delivering personalization for employees.

BrightPlan LLC is an SEC-registered investment adviser that may offer digital and human investment advice to US residents. Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC. BrightPlan is neither registered with any international agency to provide, nor does it provide, any investment advice to non-U.S. residents. BrightPlan is a registered trademark of BrightPlan, LLC. BrightPlan is certified by the Center for Fiduciary Excellence, LLC ("CEFEX") as having met their standards for Fiduciary Practices for Investment Advisors. For more, visit brightplan.com.
© 2024 BrightPlan LLC

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SOURCE BrightPlan