UBS says it has expanded its offering of financial wellness options available for its corporate clients to offer employees.
Among the new suite of tools offered through UBS Workplace Wealth Solutions is a student loan repayment platform UBS is offering in collaboration with FutureFuel.io, a platform that supports borrowers with paying off student debt, according to UBS.
The new option can take into account each employee’s financial situation and offer a variety of options for further actions, such as refinancing or rolling up debt, UBS says. FutureFuel.io claims the average user on its platform can cut their loan by four years and save $15,000 on accrued interest, according to UBS.
In addition, UBS is now expanding its Workplace Wealth Solutions to include Retirement Plan Advisor, a new advisory program aimed at smaller participant-directed defined contribution plans, UBS says.
To deliver fiduciary advice to smaller plans, UBS is tapping a new platform set up by Morningstar Investment Management for a customized version of its Morningstar Plan Advantage, which integrates fund research, plan level data, fund status alerts and automated investment reporting, according to UBS.
UBS is also rolling out a new digital platform on Workplace Wealth Solutions aimed at combining “human guidance and digital resources to provide a conversational, relevant and actionable experience that can help the employees of our corporate clients build confidence in fostering a more positive relationship with their money and developing healthy financial habits,” the company says.
Do you have a news tip you’d like to share with FA-IQ? Email us at email@example.com.