Financial Wellness: Trends for High Earners
What does financial wellness mean for employees at the top?
Workplace financial wellness programs continue to grow in popularity. Yet questions remain about the role they should play for high net worth individuals. Often, it’s assumed their higher incomes equate to better financial health and little need for help through the workplace. But is that true?
Morgan Stanley’s recent Investor Pulse Poll provides insight. We surveyed more than 1,000 high net worth investors between the ages of 25 and 75, with $100,000 in investable assets. One-third of them report investable assets of at least $1 million, which helps yield some powerful insights into what high earners think about financial wellness programs and how they’re using them.
Here are a few trends that may have important implications for the future of workplace financial wellness for high earners in your organization.
Equity Compensation’s Stock Is Up
For one in five high net worth investors employed full-time, financial wellness at work includes some form of equity compensation.
These employees generally feel good about this benefit, as six in 10 rate equity compensation positively. They view it as a means of sharing in the company’s success.
Like many issues around money today, however, there’s a noticeable gap between men and women when it comes to equity compensation. Men are more likely to receive it. And women are twice as likely as men to feel uninformed about the topic.