insight
How financial wellness programs help advisors deepen client relationships and grow their practice
As their financial needs grow more complex, employers are looking for more than just investment management services. Financial advisors can answer the call and help deepen client relationships through personalized financial guidance. Providing such services not only strengthens client loyalty but also helps increase plan participation and elevates the role of advisor to trusted partner.
Table of Contents
- Understanding the shift toward financial wellness
- How to boost client satisfaction with financial wellness programs
- Four steps to design and implement effective financial wellness programs
- Quick stats: Financial wellness at-a-glance
- Tools and resources to support financial wellness programs
- Strategies to communicate the value of financial wellness programs
Understanding the shift toward financial wellness
When people struggle with everyday money management and debt repayment, it can take a toll on workplace performance. In fact, 40% of workers in a recent study said that financial stress reduces their productivity at work.1
Many employers understand this risk and recognize the urgent need for financial wellness education. Ninety percent of them said financial wellness programs were more important than ever, 89% believed they could help attract and retain talent, and 85% said they could improve competitiveness.2
Yet, strategies and benefits that help workers achieve financial freedom remain relatively scarce. Financial advisors have a unique opportunity to deepen client relationships by offering integrated retirement solutions that enhance financial literacy. Such programs can help empower clients to take greater control of their finances, manage debt and save for the future.
How to boost client satisfaction with financial wellness programs
Financial wellness programs help improve client satisfaction when they:
- Provide holistic tools, such as budgeting apps, debt repayment strategies and retirement readiness scores.
- Offer real-time insights into retirement progress and peer benchmarks to help assess client needs and financial well-being.
- Reduce stress and improve clarity by adopting retirement plan technology that integrates payroll data and participant contributions.
- Provide support during financial stress by connecting employees with debt management resources, budgeting and expense tracking apps, and personalized financial coaching.
Financial wellness solutions — good for your clients, good for your business.
Drive engagement for your clients and help them get their teams on the path to lasting financial wellness.
Four steps financial advisors can take to design and implement effective financial wellness programs
Advisors can work to assess client needs, set measurable goals, leverage integration technology and use phased education rollouts to boost retirement plan adoption.
1. Assess client needs
Use surveys or enrollment metrics to help identify and quantify where employers and plan participants need the most support. This step helps advisors leverage data-driven insights to serve clients better and ensure wellness programs meet real financial challenges.
2. Set measurable goals
For example, set clear objectives to improve plan participation by 10% or reduce plan loan withdrawals by 20%.
3. Leverage integrated retirement solutions
Tools like ADP Achieve Retirement Readiness Score bring together savings data, goals and health care costs to give participants a simple progress measure.
4. Implement phased rollouts
Start with high-impact financial wellness education, like student loan support or emergency savings accounts. As adoption grows, advisors can evaluate and improve the program using participant feedback and outcome metrics.
Quick stats: Financial wellness at-a-glance
| Fact | What it means for advisors | Source |
|---|---|---|
| 40% of workers report financial stress that reduces productivity. | Employers need solutions that ease stress and improve workplace performance. | Visa Financial Wellness Research, Sept. 2023 (commissioned by ADP) |
| 60% of plan participants don’t know how much they need to retire (or worry they’ll outlive savings). | Advisors can use tools like MyADP Retirement Snapshot® to give employees clarity and confidence. | ADP Employee Financial Wellness, Retirement Insights Survey, May 2024 |
| 90% of employers say financial wellness programs are more important than ever. | Employers see value in offering holistic solutions that go beyond retirement. | ADP/Arizent Financial Wellness White Paper, 2023 |
| 401(k) participation increases 26% when ADP enrollment meetings are held. | Education and engagement directly boost plan outcomes. | ADP internal data, 2024 |
| 25% of employees are impacted by student loan debt. | Student loan match programs are a valuable engagement tool. | ADP Employee Financial Wellness, Retirement Insights Survey, May 2024 |
| Only 2 in 10 workers currently receive professional financial guidance. | Advisors have an opportunity to step in as trusted resources. | ADP Employee Financial Wellness, Retirement Insights Survey, May 2024 |
Tools and resources financial advisors can use to support financial wellness programs
Only 23% of employers have increased their commitment to providing financial wellness benefits.3 Financial advisors can help them do more for their employees with resources like budgeting tools, retirement readiness calculators, student loan match programs and communication plans.
Budgeting and financial literacy tools
The ADP financial wellness library offers videos, articles and courses on topics that include salary planning, budgeting and investing.
Retirement readiness calculators and surveys
MyADP Retirement Snapshot® and the Retirement Readiness Score provide personalized benchmarks for participants.
Student loan match programs
With research indicating that 25% of employees carry student loan debt,2 employer loan matching programs can be a valuable benefit for participants. It works as follows: Employers match their employees’ student loan repayments with contributions to their retirement accounts. Instead of having to choose between paying student loans or saving for retirement, employees can do both simultaneously.
Participant communication and content
Targeted email campaigns, guided enrollment and online educational resources that help participants gain more control over pressing financial challenges. The material may cover how to budget wisely, save for a new house or how to plan for retirement.
Strategies for financial advisors to communicate the value of financial wellness programs
Advisors can highlight program value with personalized outreach, educational information and success stories. Positioning themselves as proactive partners may also prove beneficial.
Personalize outreach
Advisors should deliver relevant communications based on factors like age, income, career stage and financial literacy levels.
Host education sessions
Information from the ADP Retirement Success Pod(k)ast Series and other sources offers valuable employee education on saving, investing and managing debt.
Boost engagement
Hold enrollment meetings with AD. Plans that do saw a 26% increase in participation rates within one year.4
Position as a partner
Advisors should show employers that their roles extend beyond investment products and that they can help people meet life goals.
How financial wellness programs can build stronger client-advisor relationships
Only two in ten workers currently receive professional financial guidance.5 Advisors can help close this gap and build stronger advisor-client loyalty with personal guidance, enhanced literacy and ongoing support.
Personalized guidance
Financial counseling, digital tools and readiness scores help employees make informed choices.
Enhanced literacy
Access to on-demand libraries and interactive calculators improves confidence.
Ongoing engagement
Webinars, podcasts and advisor check-ins create frequent touchpoints that build long-term trust.
The impact of financial wellness programs on employee retention
Two in three employers hear from employees that financial stress is a top concern.6 Easing this anxiety with holistic financial wellness can improve retention. It may also result in the following successes:
- Higher plan participation when education and financial literacy are integrated.
- Lower early withdrawals and loan activity when employees feel more financially secure.
- Stickier client relationships because employers see direct value in advisory services.
Positioning a practice as a trusted financial partner
Clients want more than generic advice. They seek relationships built on trust, transparency and outcomes. Financial advisors can meet such expectations by providing regular financial reviews, enhancing communications and using client portals. These tailored solutions, coupled with financial wellness programs, can help position institutions as trust financial partners and increase client retention and loyalty.
Frequently asked questions
How do integrated retirement solutions help improve client results?
Integrated retirement solutions connect payroll, HR and retirement plan data into a single ecosystem. They help enhance administrative efficiency and compliance support and give participants real-time visibility into their savings. Advisors who introduce integrated benefits platforms can demonstrate measurable improvements in participation, contribution rates and overall client satisfaction.
What resources do financial advisors use most to support financial wellness programs?
Budgeting apps, readiness calculators, student loan repayment support and communication platforms can all support financial wellness. ADP consolidates these resources into a single integrated solution.
How can financial wellness programs improve 401(k) participation?
When employees feel less stressed about short-term needs, like debt or emergency savings, they are more confident about contributing to retirement.
Do I need a financial advisor for my 401(k)?
Financial advisors offer tools, education and other support services that can help build confidence in retirement savings plans. However, only two in ten workers currently receive professional guidance. There’s a clear opportunity for advisors to step in as trusted resources.
1 Visa Financial Wellness Research, Sept. 2023, commissioned by ADP
2 ADP Employee Financial Wellness, Retirement Insights Survey, May 2024
3 ADP Financial Wellness White Paper, Nov. 2024
4 ADP 2024 internal data
5 ADP Employee Financial Wellness Survey, 2024
6 Arizent/ADP Financial Wellness White Paper, 2023
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M-796460-2025-08-28
IMPORTANT: MyADP Retirement Snapshot(R) and Retirement Readiness makes no assumptions about your tax status or savings and should not be used as the basis for any planning decisions. The likelihood of various savings outcomes are hypothetical, do not reflect actual investment results or market fluctuations and are not guarantees of future results. Results may vary potential savings scenarios, with each use and over time.
The Enrich catalogue of financial wellness topics is intended for educational and informational purposes only. This information is intended for general knowledge and does not necessarily reflect ADP, ADP affiliates or your employer. Content in this library should not be construed as financial, tax, investing or legal recommendations or advice.
ADP Inc. owns and operates the ADP.com website. Unless otherwise disclosed or agreed to in writing with a client, ADP, Inc. and its affiliates (ADP) do not endorse or recommend specific investment companies or products. Please consult with your own advisors for such advice.
