Executive Roundtable Discussion: Liquidity Strategies for Venture-backed Companies

A New Approach to Financial Wellness

Financial wellness is about the state of improving ones relationship with their finances. Financial stress can look very differently depending on the employee that we’re working with. It may be having student debt levels that’s really high. It may be coupled with living in a high cost city. And the importance of that is we want to make sure that money is not a source of stress, but is actually quite the opposite. It can be a source of confidence, of empowerment.

What does a modern financial wellness program look like?

Financial wellness is incredibly important because it comes back to taking care of your people. Our full suite of financial wellness offerings consists of three areas. We have an education program which is really grounded on understanding your finances and building acumen around investing. We do this secondly through providing advice. This is a personalized roadmap to plan for your future. And thirdly, it’s about providing solutions. For every employee, once we have a plan in place, taking action and have the resources they need to help reach their goals.

How can business take a customized approach to financial wellness?

We know that creating a customized financial wellness program is incredibly important, but we also know that there’s challenges for organizations that may have a diverse population.

The programs should be designed according to the needs of the organization and the needs of the people. By serving your population and hearing and taking in the questions they may have, we can start to identify trends based on different segments.

How can financial wellness help recruitment and retention?

Employees or future employees are asking employers do they an offer of financial wellness benefits. So those companies and organizations that do have these benefits can attract new talent to their organizations.

Why is human capital so important for organizations?

Human capital is one of the most, if not the most powerful assets that firms have. When they invest in their people, their people benefit but so do the companies and even down to the customers that they serve.So with the Morgan Stanley Financial Wellness Program, we’re the connective tissue helping employees understand where they currently are and how to make the most of their benefits.