Corporate financial wellness is getting a lot of attention these days, and with good reason. Research reveals that financial issues are the #1 cause of stress for employees. Our daily conversations with human resources executives provide anecdotal support for that research. In addition, HR executives confirm that employees lack comprehensive guidance on personal finance. In fact, a few weeks ago, the VP of Compensation and Benefits for a 2,000-employee financial service company told me that she receives calls every week with questions about employee benefits and personal finance. Employees go to her because they have nowhere else to turn. HR teams are a great source of information but, for several reasons, can only go so far in helping employees make great decisions.
We started myFinancialAnswers to provide employees and employers with a practical solution to this issue. We’re providing access to tools and, most importantly, experts for employees to speak with. We’re providing employers and HR executives with a trusted, unbiased resource to provide their employees. We’re helping employees consider their employee benefits options, and we’re going further by helping them consider the entirety of their financial lives as they make those decisions.
I am very proud of our progress at myFinancialAnswers over the last 18 months. We’ve built a team of expert financial planners, software developers, product managers, and designers that are passionate about helping employees make better financial decisions. We’ve deployed a very successful beta test in the market and are growing the hundreds of active users already on the platform. We are inspired every day by the HR teams and partners that share our eagerness to improve the financial wellness of employees. I’m excited to see what is to come in 2016 and beyond.
To that end, I am excited to announce that Nate Randall will serve on our Advisory Board. Nate recently led Global Benefits and Employee Experience at Tesla Motors and is now Founder and President of Ursa Major Consulting, where he is doing what he is most passionate about: creating, solving, and partnering with incredibly smart people and companies. Nate is deeply passionate about employee financial wellness and has long evangelized the need for workplace financial wellness. We are already benefiting from his deep experience, knowledge and thought-leadership. Nate’s guidance and support no doubt improves our ability to accomplish our vision at myFinancialAnswers of helping many employers and countless employees with unbiased, holistic financial planning. We are glad to have Nate on the team!
Welcome aboard, Nate!