Financial Finesse Selected by Capital Group to Bring Personalized Financial Wellness to Plan Sponsors

News provided by

Jul 18, 2023, 08:00 ET

Partnership supports advisors and plan sponsors in helping participants achieve financial security

EL SEGUNDO, Calif., July 18, 2023 /PRNewswire/ -- Financial Finesse, the leading independent provider of financial wellness coaching benefits, today announced the expansion of a successful initial program with Capital Group, one of the world's largest and most experienced active investment managers, and home of the American Funds. The initial program brought Financial Finesse financial coaching to select Capital Group DCIO clients in the mid-sized plan sponsor market and PlanPremier^® full-service recordkeeping clients in the large plan sponsor market, resulting in increased participant financial wellness while meeting employer demand for workplace wellness and driving new business for advisors.

The expanded program makes financial wellness coaching from Financial Finesse available to prospective Capital Group clients in the large plan sponsor market—with no additional cost for plan sponsors or their participants. Plan participants will receive unlimited access to Financial Finesse's robust digital financial wellness hub, virtual financial coach and interactive guide Aimee™, live webcasts, and a team of CFP^® professional financial coaches available via phone and live chat.

"We are thrilled with the results of the initial program and the plans to expand it," said Liz Davidson, founder and CEO of Financial Finesse. "It has been a true privilege to work with Capital Group, with their long track record of driving innovation and results and unrelenting focus on putting participants first. Within 15 months of the initial program's launch, plan sponsors saw participant engagement of over 38%—well above industry benchmarks. The program also proved that integrating financial coaching can drive a significant increase in assets under management for retirement plan advisors."

Sean Bjork, President of Bjork Asset Management, Inc., who works with several plan sponsors who participated in the initial program, said, "Access to Financial Finesse's industry-leading financial coaching has been an absolute game-changer, answering a pressing need for our plan sponsor clients and their employees. The ability to help the American worker build a solid financial foundation through the workplace and at scale has absolutely changed our positioning in the marketplace and the value we're able to bring to our interactions with plan sponsors, plan participants, and their families."

"Integrating financial wellness into Capital Group's offering to support participants, plan sponsors, and our intermediary clients is a critical component of improving participant outcomes as we continue to expand access to savings through employer-sponsored retirement plans," said Brendan Mahoney, Head of Institutional Retirement Strategic Growth at Capital Group. "Our partnership with Financial Finesse is also an important part of helping advisors scale their business by giving them the ability to bring an in-demand benefit to the plan sponsors they serve."

About Financial Finesse
Financial Finesse is the country's leading independent provider of unbiased workplace financial wellness coaching programs. Since 1999, the firm has helped tens of thousands of organizations improve their bottom lines and become more competitive by empowering their employees to achieve financial security. The company's award-winning financial wellness programs are made available to employees at no cost as an employer-sponsored benefit. With highly personalized and ongoing one-on-one coaching from CFP® professionals, AI-powered virtual coaching, live workshops, webcasts, educational tools and content, Financial Finesse has worked with millions of employees to build better financial lives for themselves and their families. www.financialfinesse.com

About Capital Group

Capital Group, home of American Funds, has been singularly focused on delivering superior results for long-term investors using high-conviction portfolios, rigorous research, and individual accountability since 1931.

As of March 31, 2023, Capital Group manages more than $2.3 trillion in equity and fixed-income assets for millions of individuals and institutional investors around the world. Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed-income investment professionals provide fixed-income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.

For more information, visit capitalgroup.com.

Media contact:
Maggie Weinberg, Financial Finesse
[email protected]

SOURCE Financial Finesse