SAN DIEGO—Securian Financial has teamed up with San Diego-based financial education company iGrad to offer the award-winning Enrich™ financial wellness platform to its retirement plan employer clients and their employees, at no additional cost.
“Financial stress is a major pain point for far too many Americans. Adding the Enrich tool to our financial wellness program will help our customers gain the confidence they need to build a secure financial foundation.” -Brandon Bellin, Securian Financial Retirement Solutions director and actuary
Called Personalized financial education by Enrich™, it features the Your Money PersonalityTM financial behavior assessment, which analyzes each user’s financial “personality.” The platform also provides:
- Financial education courses with personalized action plans on topics including budgeting, mortgages, healthcare, college savings, student loan repayment, banking, credit, financial planning and more
- Retirement and home affordability analyzers
- A suite of student loan and higher education tools
- Personal finance calculators and a real-time budget tool
“Personalized financial education by Enrich is the newest addition to Securian Financial’s Financial Wellness 360® program. We are excited to bring the Enrich platform to our retirement plan clients and their employees,” said Brandon Bellin, Retirement Solutions director and actuary, Securian Financial. “Financial stress is a major pain point for far too many Americans. Adding the Enrich tool to our financial wellness program will help our customers gain the confidence they need to build a secure financial foundation.”
Enrich is used by more than 20,000 employers and more than 300 financial institutions nationwide, with artificial intelligence technology that engages each user with the most relevant content based on financial situation and stage of life. The Enrich platform includes dynamic tools and courses, delivering a highly personalized and interactive learning experience on financial topics including student debt, mortgages, budgeting, investing, retirement and long-term care.
According to a 2021 Capital One CreditWise survey¹, 73 percent of Americans rank their finances as the most significant source of stress.
To combat financial stress, Enrich users are prompted to update their stress score regularly to gauge the correlation between improved financial wellness and stress levels. Data from 2019 shows that as Enrich participants improved financial understanding, their stress levels dropped by an average of 23 percent.
Additional Enrich data found positive behavior changes as a result of program participation, including:
- 27 percent increase in users with emergency savings funds to cover three to six months of expenses
- 28 percent increase in users that pay their credit cards in full every month
- 32 percent increase in employees getting on track with their financial goals
- 15 percent increase in users contributing to their retirement plan
“The Enrich platform can help people of all income levels and in all stages of life,” said iGrad founder and President Rob LaBreche. “Securian Financial is demonstrating the importance of financial wellness by offering Enrich to thousands of American workers who can access the platform virtually and receive customized financial wellness education specific to their needs and situation.”
In the retirement plan market, Securian Financial serves organizations of all sizes with a focus on those with $1 million to $200 million of plan assets. Securian Financial offers 401(k), 403(b), Pooled Employer Plans, defined benefit and pension risk transfer products. Securian Financial’s retirement plan products are issued by Minnesota Life Insurance Company and Securian Life Insurance Company, a New York authorized insurer.
About Securian Financial
At Securian Financial, we’re here for family. And we’re here because of it. We’re guided by our purpose: helping customers build secure tomorrows. Since 1880, we’ve been building a uniquely diversified company that has outlasted economic ups and downs while staying true to our customers. We’re committed to the markets we serve, providing insurance, investment and retirement solutions that give families the confidence to focus on what’s truly valuable: banking memories with those who matter most.
iGrad is a San Diego-based financial technology company that offers artificial intelligence-powered financial wellness solutions to more than 600 colleges and universities, more than 20,000 employers and more than 300 financial institutions. iGrad’s Your Money Personality™ was recently recognized by the Institute for Financial Literacy with the 2020 Excellence in Financial Literacy Education (EIFLE) Adults’ Education Program of the Year award. iGrad is one of three 2020 honorees in the inaugural Barron's Celebrates: Financial Empowerment, after being selected by a team of judges for its contributions to improving the financial health and security of Americans. iGrad also received the 2019 Eddy Award for Financial Wellness by Pensions & Investments for its Enrich platform. For more information about the iGrad platform, visit https://www.igradfinancialwellness.com. For more information about the Enrich platform for employers and financial institutions, visit https://www.enrich.org.
Enrich Financial Wellness services are provided by Enrich, the financial wellness platform of iGrad, and all such services and products are the sole responsibility of Enrich/iGrad. iGrad is not affiliated with Securian Financial Group, Inc., Minnesota Life Insurance Company (“Minnesota Life”), or Securian Life Insurance Company (“Securian Life”) and the services are not part of your contract with Minnesota Life or Securian Life. Minnesota Life and Securian Life have made these services available to their respective Group Employer and Plan Sponsor clients as a potential resource and such availability does not constitute an endorsement of the products and services.
Securian Financial is the marketing name for Securian Financial Group, Inc. and subsidiaries. Minnesota Life Insurance Company and Securian Life Insurance Company are subsidiaries of Securian Financial Group, Inc.
1 - https://www.cnbc.com/select/73-percent-of-americans-rank-finances-as-the-number-one-stress-in-life/