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EY’s new financial wellness platform explained

By Rob Starr, Content Manager

Although they recently announced the launch of their new eFinancial Wellness platform, a financial planning service featuring interactive technology and providing a selection of financial education resources for small to mid-market employers, Lynn Pettus, Partner and National Director of the Employee Financial Services practice of Ernst & Young LLP, notes this kind of service is not new territory for the auditing/consulting firm.
“We’ve been providing employee education and counseling for over thirty five years and what we’ve seen more and more is there needs to be a turnkey technology platform solutions for employers,” she says adding the familiarity Millennials have with technology and the increasingly full plate organizations are laboring under added to the urgency for a DIY financial planning service available to small to mid-market employers.

Project Management Support 

EY’s new eFinancial Wellness platform satisfies these requirements with features like client-ready communications packages, quarterly engagements reports and dedicated project

Lynn Pettus

Lynn Pettus

manager support. It’s available to employees twenty-four hours a day, seven days a week and allows them to address their financial planning needs by topic ( like investment planning or education funding ) or through a life event like having a child. The platform has several other features that further utilize the latest technology. Pettus explains these added advantages.

Chat Support

“We have navigational and technology chat support as well as short educational, entertaining videos to help engage people in the financial planning process,” she says. “There’s also a financial wellness assessment that’s information gathered from employees so they can come up with a guided action plan.”
The eFinancial Wellness platform takes the important step of turning the information and resources over so people can make their own decisions about what’s important in their financial lives starting with a Financial Wellness Assessment. This assessment provides a baseline score that each employee can use to sort through the financial education provided.


With the resulting sense of fiscal well-being that comes from managing their financial lives, money related stress is lowered and the workforce becomes more engaged and productive. This holistic approach addresses monetary concerns encompassing and going beyond the traditional ones like saving for retirement.
“For many of the early stage Millennials, we see a concern about how to pay off student debt and loans as well as how to save for a house and contribute to a 401k at the same time,” Pettus says, adding the new eFinancial Wellness platform addresses the financial priorities that can stack up well before an employee is considering retirement.

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