UBS Workplace Wealth Solutions Expands to Provide Corporate Clients with Student Loans, Pensions, and Broader Financial Well-Being Tools for Their Employees
Collaborates with FutureFuel.io, a student loan repayment platform that helps company employees repay student debt quickly and efficiently through innovative technology-driven solutions
UBS Global Wealth Management announced its enhanced UBS Workplace Wealth Solutions offering with updated digital capabilities tailored to address the financial well-being concerns of employees at its corporate clients to enable their employees to better understand their personal finances.
UBS Workplace Wealth Solutions currently offers 10,000 employers and more than 2 million employees a full suite of solutions including financial wellness, stock compensation and retirement programs, as well as institutional advisory services.
“The extensive tools and capabilities will help meet the needs of our current and potential clients of all generations and income levels, providing financial well-being advice and innovative working solutions on one platform. user-friendly form, ”said Michael Barry, Head of Workplace Wealth Solutions, UBS Global Wealth Management. “These advancements reinforce our strategic goal of continuing to increase the value we can bring to the workplace and businesses of all sizes, while helping employees understand their benefits and improve the relationship with their money.
Student loan solution
UBS collaborates with FutureFuel.io, a platform that enables employees of its corporate clients to manage student debt through its programmatic approach. This personalized offer will take into account an employee’s unique financial situation and help them manage their student debt using a range of dynamic tools, including Reassess, Round up, Give Back, Refinance and Roll Up. Users can then choose to implement actions that help them feel more confident in their financial future. The average FutureFuel.io user tends to save $ 15,000 on accrued interest and reduce their loan by four years.1
“We believe that employers, along with financial health and wellness offerings, can no longer ignore the financial struggle facing the vast majority of the emerging American workforce,” said Laurel Taylor, founder and CEO of FutureFuel.io. “The goal in offering FutureFuel.io to corporate clients is to provide their employees with access to student debt benefits that can help them educate them and ‘crush’ student loans to alleviate their burden. financial burden and position them well for their future financial health.
According to recent research, 70% of college graduates start their financial journey burdened with student loan debt.1 In addition, in the second quarter of 2020, outstanding student debt stood at $ 1.54 trillion in the United States, the second largest after mortgages.2
From this fall, a UBS client company can offer its employees access to the FutureFuel.io student loan offering through the enhanced UBS Financial Wellness platform.
Small business pension advisor platform
UBS Workplace Wealth Solutions has also expanded its offering to include UBS’s Retirement Plan Advisor, a new advisory program designed to deliver enhanced services efficiently to small, member-driven defined contribution plans. Through this program, UBS provides fiduciary investment advice to plan sponsors with the flexibility they have come to expect in a non-discretionary advisory solution, comprising a wide selection of investments and plan providers.
Retirement Plan Advisor is unique in the pension advisory industry – UBS can now offer advisory services to more small market plan sponsors by leveraging a robust new platform created by Morningstar Investment Management LLC, a registered investment advisor and subsidiary of Morningstar, Inc UBS has implemented a fully customized version of Morningstar Plan Advantage, a platform designed to seamlessly integrate fund research, plan-level data, fund status alerts and automated investment reporting, which enables UBS to deliver enhanced services in a highly efficient manner.
“With this new offering, UBS is helping clients reduce the burden of managing their retirement plans for small businesses and, at the same time, provide plan members with access to resources that generate positive results – for retirement and their overall financial well-being, ”says Michael Barry.
Digital financial wellness platform
To further enhance its UBS Financial Wellness program, UBS Workplace Wealth Solutions is also launching a new digital experience. Built around the understanding that an individual’s finances are deeply emotional, the new digital platform combines human guidance and digital resources to deliver a conversational, relevant and actionable experience that can help employees at our client companies to empower confidence by fostering a more positive relationship with their money and the development of healthy financial habits.
More than ever, financial well-being is making a difference. A recent UBS study shows that financial wellness programs help employees feel more in control of their financial situation, more loyal to their employer and motivated to do their best.3
Notes to Editors
FutureFuel.io is a platform that helps America’s 45 million borrowers pay off their student debt as quickly and efficiently as possible. On average, FutureFuel.io saves users $ 15,000 and half a decade on their student loan payments through a personalized FinHealth student debt platform that optimizes registration for the federal reimbursement plan, automates the management of unruly student loans, gamifies spare currency, and empowers users to discover free money from merchants when shopping online. FutureFuel.io’s comprehensive platform reduces student debt by allowing users to take small actions that have a big impact. The institutional investors of FutureFuel.io are full of heart and live at the intersection of social impact, fintech and the future of work. Investors include some of the world’s best VCs including Salesforce Ventures, Rethink Impact, Vulcan Capital, Fiserv, Breton, Financial Health Network, Reach Capital, Impact Engine, and G9. To learn more about the capabilities of FutureFuel.io, visit: https://futurefuel.io/.
About UBS Workplace Wealth Solutions
UBS Workplace Wealth Solutions works with corporate clients to deliver personalized solutions across a range of workplace programs, including financial wellness, retirement, action plans and institutional counseling. We currently provide more than 10,000 employers and their 2 million employees in over 150 countries with access to financial advice, benefit program support and an integrated experience that combines the right mix of people and technology. We work alongside our clients to make their employees – and them – feel rewarded at work and optimistic about achieving their long-term financial goals.
2Federal Reserve Bank of New York, Quarterly Household Debt and Credit Report, 2020: Q2 (published August 2020)
3UBS survey of employee attitudes towards financial wellness programs, 2020
See the source version on businesswire.com: https://www.businesswire.com/news/home/20201022005686/en/
Head of Media Relations, UBS Global Wealth Management Americas
+1 (212) 713 3130