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Financial Wellness Engagement is Important Component Pre-retirement

Financial Wellness Engagement is Important Component Pre-retirement

Financial Wellness engagement has proven to be one of the keys to a successful retirement. Financial Wellness engagement can occur in many different ways.  During the 401kTV GENIE Awards, held at the University of Chicago Gleacher Center, in Chicago, Illinois, Graham Thomas of 401kTV interviewed Financial Wellness Category Finalist Glen, Colewell.  Mr. Colewell is a retirement industry veteran who works with retirement plan sponsors in the greater Milwaukee area and all throughout the state of Wisconsin.  Glen Colewell shares with the viewers how Financial Wellness can be addressed within an organization and how it can be used as a tool for helping plan participants to manage financial decisions during their working career.

Full Transcript Here

Graham Thomas:
Hi, Graham Thomas, publisher of 401k TV coming to you live from the 2019 Genie Awards, in Chicago. I’m here with Glen Colwell from Pension Advisors in Milwaukee, Wisconsin, a finalist for the wellness category. Glen, congratulations.

Glen Colwell:
Thank you.

Graham Thomas:
Is it okay if I ask you a couple of questions?

Glen Colwell:
Sure.

Graham Thomas:
You shouldn’t have said that, because this is an unfair one.

Glen Colwell:
Uh-oh.

Graham Thomas:
How do you define wellness?

Glen Colwell:
I don’t. I think that’s just the buzzword out there and I think wellness is defined by differently by every individual and organization that addresses this topic. There’s some sayings out there and you can define illness, but you definitely can’t define wellness. So we know what illness looks like in our workforce, but not necessarily wellness because it’s each individual and each organization’s different definition.

Graham Thomas:
Interesting. And so specifically what do you guys do within your firm to really address what is sometimes an amorphous topic?

Glen Colwell:
I think it starts at the top. You’ve got to talk to leadership and ownership about what their philosophy is around benefits and not just health and welfare, but retirement too. We’re converging on this aspect through their technology and/or demand through attraction retention that we need to address what benefits look like on a whole. So what’s the philosophy?

Graham Thomas:
What’s the philosophy. And does that always come from the CEO level or as you work with bigger companies, does it take a lot of input from a lot of different places and how do you expect to achieve that?

Glen Colwell:
A good question. I find that once you ask the question, what is their philosophy on benefits? There’s a lot of staring at the next person sitting next to you.

Graham Thomas:
Great answer.

Glen Colwell:
And I think they haven’t taken time, right, to do that. They’re so busy with their other aspects of day-to-day grind and work that they need to take some time and understand what benefits look like for their organization.

Graham Thomas:
Good. There you have it. Service the conversations and that will lead to the answers. Glen, congratulations again.

Glen Colwell:
Thank you so much.

Graham Thomas:
Thanks again for watching this and please stick with us for more videos from 401k TV.

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