Financial Wellness

Financial Wellness: The Opportunity for Advisors

Executive Summary

What is Financial Wellness?

Financial wellness is the ability of individuals and families to manage daily finances while setting short- and long-term investment goals. Financial wellness results from adopting healthy saving and investing behaviors that are attainable and maintainable over time.

The Opportunity for Advisors

Regulatory and demographic changes make predicting the future for your business a challenge. However, we believe two things are certain — more plan sponsors will want to provide holistic financial education, and they will need help from advisors like you to do it.

Incorporating financial wellness programs into the services you deliver can help:

  1. Attract new business

  2. Improve participant outcomes

  3. Differentiate from competitors

  4. Demonstrate value to sponsors

  5. Scale participant education more efficiently

Dive deeper into the opportunities surrounding
financial wellness.

The Need for Financial Wellness Education

Millions of Americans at all income levels live in a state of personal financial crisis. It’s affecting their health, their relationships, and their work. Many are ready to take control of their money but don’t know how.

1 S&P Global FinLit Survey 2015
2 American Psychological Association 2015
3 U.S. Census Bureau at al. 2014
4 MarketWatch 2015

Retirement Plans Struggle With the Same Issues

In 30 years of serving retirement plans, we’ve seen changes in plan design and participant communications make significant headway toward creating retirement readiness. However, even when employees grasp the importance of preparing for retirement, day-to-day financial issues like paying down debt, saving for college, or living within a budget can hamper their progress.

T. Rowe Price Retirement Saving and Spending Study (2015)

Wellness Works for Everyone

Financial wellness programs can benefit sponsors just as much as participants. Research shows that financial stress can adversely impact employee performance, retention rates, and plan contributions. Providing employees with tools and techniques for managing that stress can translate to a more productive workforce, greater business success, and increased retirement plan contributions.

Getting Started

T. Rowe Price has created tools to help you incorporate financial wellness education into the services you provide:


Use these tools to guide the financial wellness conversation and identify appropriate solutions.


Provide advisors with a unique way to address financial wellness and differentiate themselves with prospects.


The "what," "why," and "how" of using financial wellness to build business.


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