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and more companies now provide some form of financial
education program for their employees however, because
of cost or time constraints they are typically group
oriented and focus primarily on retirement
planning. While the importance of proper
retirement planning cannot be discounted in many cases
it is only one of many concerns that typical employees
are dealing with today. Goals like paying off debt,
sending the kids to college, buying a car or house, or
just establishing a regular savings plan are more
immediate concerns than the sometimes distant notion
of retirement. These are issues that can only be
addressed in a confidential one on one setting where
the employee is free to ask questions related to their
specific situation. |
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firm offers a program where we work through the employer
to provide Financial Advisory Services to the employee
that cover all areas of financial planning along with
regular meetings to adapt to changes in their financial
strategy. This in effect puts us on a retainer with
each employee who wants to work with us. Through this
type of relationship we are able to place them in a
better position to achieve their goals, and thus improve
their financial lives, rather than focusing on only one
area. This increased awareness of how their company
sponsored benefits tie together with their individual
goals provides an added benefit to the employer. This
can only lead to increased participation from the
employee. |
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addition to the previously mentioned benefit there are
some additional advantages to the employer. First we
take the fiduciary reponsibility off the shoulders of
the employer by making sure each employee is adequately
educated. Next, the employer can use the availability of
these services as an added benefit to prospective
employees, as well as to improve employee retention. Lastly,
probably the biggest benefit is that by lifting the
burden of worrying about financial matters from the
employee the employer should have more productive
workers and thus an improved bottom line. |
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