MetLife and Ernst & Young LLP are joining forces to help employees boost financial health. The companies are launching PlanSmart, a financial wellness product focusing on behavioral change, giving employees the tools, guidance and support they need to improve their money management skills.
The offering builds on MetLife’s PlanSmart workplace financial education program, which has offered workshops and one-on-one consultations for more than 20 years to over 2,000 Group customers. MetLife’s experience in this space, along with in-depth research and customer feedback, will help shape the solution’s new capabilities.
“Employees are stressed about their finances—MetLife research has found just over a third (38 percent) feel in control of their finances, compared to 44 percent in 2015—and they are looking to their employer for help,” James Reid, executive vice president, MetLife said in a statement. “The combination of MetLife’s understanding of employee needs and EY’s leading employee financial wellness services uniquely positions us to give employers the robust program they need to help empower employees to take action.”
PlanSmart Financial Wellness will bring together MetLife’s decades of experience in delivering workplace benefit solutions and financial education with EY’s innovative, high-tech approach to offering financial education and counseling. The result will be a customized, goal-oriented approach to financial wellness that will meet employees where they are, offering the tools via channels they prefer. This will include online and phone support, both offered by EY.
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