FELA : Financial Education & Literacy Advisers

Initiative Overview: A national employee benefits provider based in Atlanta, GA was in the process of developing its long-term strategic plan. As part of this effort, the company wanted to evaluate opportunity and create a business case to provide financial wellness as a core service offering of the company. This benefits provider reached out to FELA for help with their strategic review.

The company chose LifeCentsTM to be the focus of a four month research study as the model for an employer sponsored financial wellness program. The study included the participation of nearly two hundred employers (human resource executives), employee benefits brokers, and employees.

Objectives: The study was designed to help the employee benefits provider determine whether the company should offer financial wellness as part of their core voluntary benefits. Given that the study was based on the employee benefits provider customizing FELAs LifeCentsTM platform, the study also assessed the interest in, demand for, and usage of FELAs model of financial wellness.

Outcomes: At the conclusion of the four month project, the employee benefits provider produced a study which unequivocally demonstrated interest in the LifeCentsTM model for financial wellness in the workplace. FELA scored a 5 out of 5 across all measurements in the study and across all groups.

 
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FELA : Financial Eduction & Literacy Advisers



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