iAtoday

Financial worries are the biggest source of stress for many Canadians¹. These concerns can affect their physical and mental health as well as their job performance. To reduce the negative impact in the workplace, many employers want to help their employees improve their financial wellness.

To meet this need, we are currently developing the new My Financial Wellness section in My Client Space, our secure website. It will be available this summer for group savings and retirement plan members and will include a financial wellness zone and a financial wellness assessment questionnaire.

Financial wellness zone

This zone will gather information, tips and tools to help members better understand the key concepts related to the four personal financial pillars:

• Making a budget
• Protecting finances
• Setting financial goals
• Planning for retirement

Financial wellness assessment

Members will be able to complete a financial wellness assessment. They will be given an overall score that reflects their financial health as well as a score for each of the four personal financial pillars. Based on their results, an action plan and personalized resources will be suggested to help them better understand the concepts they are less comfortable with, and encourage them to change some of their habits. The action plan will evolve as they reach their goals. They will therefore be on their way to better financial health thanks to advice adapted to their own situation.

Stay tuned to upcoming editions of iAtoday to be notified of the launch of the My Financial Wellness section in My Client Space. We are confident that this addition to our digital tools will help reduce financial stress for members.

¹ Financial Planning Standards Council, “OMNI REPORT: Financial Stress” (2018).