Enrich Financial Wellness: Decreasing Americans Financial Stress

Brand images are an integral part of a business and require nurturing the business for long periods before being established as a renowned and trustworthy one. However, this becomes an even more arduous task in the domain of finance, where consumers need to think a million times before trusting any brand with their money. Enrich Financial Wellness is a brand of iGrad, Inc. that has not only successfully established its base but also entrenched the well-earned trust of its customers. Moreover, their base is constantly expanding, where new members are being added to their family each day.

This organization is primarily driven by the help of technology and takes into its ambit two white-label programs, iGrad and Enrich, both performing incredibly well in their respective fields. Where iGrad has been working towards providing financial wellness to colleges and universities and today is present in over 600 campuses, the Enrich program aims to facilitate a better financial experience to employees of large organizations and members of financial institutions. At present, it is serving over 20,000 employers and is continuously expanding its horizons. These dual platforms work simultaneously to alleviate people from their money woes by providing interactive, customizable, and adaptive learning technology. 

The Architect of This Enterprise 

Rob LaBreche, the Founder and CEO of iGrad, started the company with a core group of individuals from the financial aid industry. Each had a passion for financial literacy given prior experience in a related industry, and all their efforts have fostered what is considered the gold standard in financial wellness services. In particular, Kris Alban, the Company’s Executive Vice President has guided the marketing and branding strategy from day one and curated the iGrad and Enrich names to be synonymous with financial well-being.

The main motivating force behind the creation of such an enterprise was that most Americans remain concealed or oblivious from the financial education that is required to triumph in the real world. Establishing itself in 2009, iGrad has been continually working on improving financial literacy in higher-level institutions in the United States. Since then, there has been no looking back. A comprehensive and customized literacy program is being provided to a huge expanse of students today. But the team did not rest on the laurels of success in higher education. Towards the later periods, the team, decided to integrate the Enrich Financial Wellness program into the organization, thereby expanding its services to employers and financial institutions.

The Footprint to Financial Prosperity  

Workplace surveys reveal that more than 40% of employees go through severe circumstances where there is a lack of even basic financial security, while 82% of the employer base takes it upon themselves as a responsibility to ensure the financial well-being of their employees. Therefore, financial well-being is a topic that holds significance in both the arenas- employee as well as their employer. Enrich Financial Wellness offers a program that is ongoing, ever evolving, and considers personal benefits while simultaneously educating users on financial literacy and financial capacity.  

This platform is designed to educate and empower employees, and data has shown that platform usage leads to lower financial stress. An organic and comprehensive experience is given hands-on to the employees. The entire system has been conceptualized so that employees can go through a stress-free experience where no matter how much they earn, they will learn and benefit from the Enrich Financial Wellness Platform.  

Winning Laurels for Brilliancy  

The organization has won several accolades that reflect upon its high quality of services. It is a three-time winner of the Education Program of the Year (The Institute for Financial Literacy) and has also received an EIFLE Award for its Your Money Personality Assessment that helps users understand each element on their money personality including dominant traits, strengths, and challenges. It is also the three-time winner of the Best Product award (University Business Magazine),  the Outstanding Consumer Information Award (AFCPE), and was recently honored by Barron’s for Financial Empowerment and its contributions to improving the financial health and security of Americans.  

Idiosyncratic Attributes  

The Enrich platform uses an out-of-the-box prescriptive approach that manages to personalize a financial wellness action plan for every individual. The organization is also putting in extra efforts to make financial well-being easily approachable and accessible irrespective of an individual’s backdrop. Personalizing the entire experience makes the user feel at home. During onboarding, the platform establishes where each user is in their financial wellness journey through the financial behavioral assessment. This assessment then serves to guide users through the vast array of content.  

Nitty-Gritties of Financial Well-Being  

Many people might not accept the importance, but money today is one of the most significant and personal assets that one holds. Employers are striving hard to strike a balance where they must work so that their employees are content while also ensuring that not too many resources are being wasted. According to several surveys conducted, nearly 40% of employees can only save $50,000 towards their retirement funds, the result being that most people have to postpone their retirement programs and work for longer periods to make ends meet.  

Not only this, but the generation today is also overwhelmed with huge amounts of overhead expenses. A recent PWC study revealed that 57% of millennials could not meet their household expenses on time each month. Additionally, the average U.S household has nearly $16,000 of credit card debt, which makes saving for the future almost an impossible task. Looking at these statistics, the importance of financial well-being becomes staggeringly clear. When such help is provided to people across spectrums, life goals become easily achievable, and the fun element of life is also given due consideration. This is where Enrich Financial Wellness comes in and takes you out of all your financial woes for a better and secure tomorrow.