Financial Planning Gains Momentum as 79% Want Tax-Free Workplace Advice
Updated
Updated · Wealth Management · Aug 10
Financial Planning Gains Momentum as 79% Want Tax-Free Workplace Advice
1 articles · Updated · Wealth Management · Aug 10
Summary
Workplace financial planning is gaining traction as an employee benefit, with advocates arguing it should be treated as tax-free like healthcare and 401(k) plans.
Cerulli and other research cited in the report point to strong demand: 72% lack a written plan, 78% live paycheck to paycheck, and 79% say their employer should help.
Advisors also see a business case. Fuse found a majority convert 6% of defined-contribution participants into clients, while larger RIAs convert more than 17%; Empower says participants hold $3 outside plans for every $1 in them.
Execution still hinges on data access, employee engagement and employer support, though firms are using tech and AI to scale planning and human advisors remain more trusted than AI alone.
The report says broader adoption will require advisors, plan sponsors and providers to collaborate as wealth, retirement and benefits increasingly converge at work.