OneDigital Investment Advisors now offers its employer clients a way to deliver personalized financial advice — in person or digitally — to their employees.
The company created an asset management platform that includes the service as part of employee benefit plans.
All of OneDigital’s retirement and wealth advisory business is managed in Overland Park through a division called OneDigital Retirement + Wealth, which is led by President Vince Morris. The company recently invited about 400 of its advisers and their staff from throughout the country to a three-day conference at Loews Kansas City Hotel to unveil the enhanced asset management platform.
“We believe our mission is that everyone should have a financial plan and have access to financial advice,” Morris said. “We were able to pull together a platform to be able to offer that to our clients.”
Clients sign into the platform, share their goals and where they’re at on their financial journey, set up a plan themselves or with assistance and then track the progress toward their goals.
“It’s easy for a millionaire to go find an adviser to work with because everyone wants that type of client,” Morris said. “We’re going through our employer relationships to cast a really wide net and open this up to any of the employers that we have so that they can offer this as a benefit to their employee groups.”
OneDigital can walk them through questions they may have about setting up a college fund for their kids or deciding whether it’s better to save on a tax-free basis or a pre-tax basis. Maybe they want advice about how volatile markets and inflation affect their goals and want to discuss market strategy. Maybe they want help repositioning their portfolio for retirement.
“In today’s times, you would think that people are really engaged in their finances, but oftentimes they’re not,” Morris said. “Even corporate executives are so focused on running their businesses that their own personal finances are going unchecked. They don’t really have a road map or a plan. We’re offering help for those who want a digital experience or those who want a human experience. They’ll be able to access an adviser directly through the platform.”
OneDigital has about 90,000 employee benefits clients with about 1.4 million employees in those retirement plans. It has about $106.7 billion in total assets under advisement.
