401(k) Specialist Issue 3 - 2020 - 22
Liz Davidson wants to introduce you to AIMEE,
her newest team member making an impact on
financial wellness.
" AIMEE stands for Artificial Intelligence Motivating
Employees Everywhere, " the financial
wellness pioneer and CEO of Financial Finesse
explained. " She'll assess your specific situation
and, based on that, suggest resources and next
steps tailored specifically to you. "
We've asked (hounded) Davidson for some
time about cutting-edge advancements in
financial wellness and what she had planned. A
proverbial perfect storm of technology, employer
awareness, consumer debt, and a global pandemic
meant she was finally ready to answer.
After stints in investment management and
investment banking, where she realized her
work was impacting the top 1% of Americans
and leaving behind the 99% who needed it
most, she founded the El Segundo, Calif.-based
Financial Finesse all the way back in 1999(!).
Her enthusiasm and positive attitude are
infectious, and she made a strong case for why
financial wellness is needed-especially now.
" It's a bright spot in this crazy world, " she
said. " We're understanding, as a society, the
inequality that exists with COVID and the issues
surrounding Black Lives Matter. We have
a social responsibility to address it, especially
given the company's mission to provide access
to unbiased financial wellness for all people,
regardless of income. It's traditionally been
incredibly hard to reach people en masse and
in a really deep way, especially those that don't
have much in terms of investable assets. "
Not anymore, and the capability for what
she coined the " mass personalization " of
financial wellness-driven by artificial intelligence,
predictive analytics and similar-is here.
To drive the point, she hit us with a stark,
yet unsurprising, stat, " Financial stress is the
No.1 source of stress-related illness, and it's a
feeder stressor for marriage, workplace productivity
and so many others that negatively
impact different areas of our lives. "
She's backed by similar research. For example,
PwC's Employee Financial Wellness Survey
found:
* 59% of respondents cited financial matters
as a life stressor, more than any others
combined.
* 35% reported that financial issues have
been a distraction at work.
* 49% of those spend three or more hours
at work each week dealing with finances.
Which is the reason for AIMEE.
" She allows our CFP professional coaches
to see the financial goals of each employee
and understand their journey thus far, so
we're able to understand the steps employees
take to engage, " Davidson explained.
14
ISSUE 3 2020 | 401kSpecialist.com
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401(k) Specialist Issue 3 - 2020
Table of Contents for the Digital Edition of 401(k) Specialist Issue 3 - 2020
Table of Contents
401(k) Specialist Issue 3 - 2020 - Cover1
401(k) Specialist Issue 3 - 2020 - Table of Contents
401(k) Specialist Issue 3 - 2020 - 1
401(k) Specialist Issue 3 - 2020 - 2
401(k) Specialist Issue 3 - 2020 - 3
401(k) Specialist Issue 3 - 2020 - 4
401(k) Specialist Issue 3 - 2020 - 5
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401(k) Specialist Issue 3 - 2020 - 45
401(k) Specialist Issue 3 - 2020 - 46
401(k) Specialist Issue 3 - 2020 - 47
401(k) Specialist Issue 3 - 2020 - 48
401(k) Specialist Issue 3 - 2020 - 49
401(k) Specialist Issue 3 - 2020 - 50
401(k) Specialist Issue 3 - 2020 - 51
401(k) Specialist Issue 3 - 2020 - 52
401(k) Specialist Issue 3 - 2020 - Cover3
401(k) Specialist Issue 3 - 2020 - Cover4
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