Being in business since 1989, we are often posed with the question "Why would an employer pay for your programs if they have free programs available through our 401(k) provider?" The answer is simple, unbiased education offers several advantages. Here are 5 of the top reasons why unbiased financial education is the optimal choice:
- Offers Objective Information: Financial education is focused on providing objective and neutral information. There is never a sales pitch or underlying promotion of specific products or services that may not be the best fit for everyone. Unbiased education helps individuals evaluate their options so that they can then make educated decisions with their money.
- Fulfills Fiduciary Duties: Employers who offer financial education as part of their employee benefits program demonstrate a commitment to providing comprehensive information for employees to make informed financial decisions. This aligns with the fiduciary duties outlined in ERISA, which require employers to act in the best interests of plan participants.
- Provides Long-Term Skills: Financial education imparts skills that can last a lifetime. Understanding financial principles, budgeting, investing, and risk management are skills that can be applied throughout one's life, regardless of changes in financial circumstances or market conditions. Our unbiased programs are led by Certified Financial Planners, not salespeople who can explain complicated concepts in easy-to-understand terms.
- Teaches Risk Mitigation: Unbiased financial education helps individuals understand the risks associated with various financial products and investments. This knowledge enables them to then make informed decisions aligned with their risk tolerance and financial goals, reducing the likelihood of making uninformed or impulsive choices.
- Increases Financial Literacy: Unbiased financial education contributes to increased financial literacy. Financially literate individuals are better equipped to navigate complex financial landscapes that can cause stress, avoid common pitfalls, and make financial decisions with confidence. While financial service providers may offer some great programs, these are the main reasons why our clients have selected Financial Knowledge as their go-to financial education provider since 1989. Want to learn more about Financial Knowledge, watch our intro video here: https://share.mindstamp.com/w/wLGhUiHTVbGe
