Help Employees with Financial Wellness

Teamworth’s platform allows employers to offer employees a self-service comprehensive wealth plan that addresses all components of financial wellness including retirement planning, debt management, estate planning, and tax planning.

Why Financial Wellness Matters

Higher Productivity

We must do more to ensure that employees experiencing financial struggles do not experience a decrease in performance at work. According to the Canadian Payroll Association, nearly half of Canadians admit that stress about their personal finances affects their performance at work – a cost estimated at $20 billion annually to Canadian employers.

Attracting and Keeping Talent

According to PwC’s Employee Financial Wellness Survey, nearly three-quarters of employees in financial distress have indicated that they would be more attracted to a new employer who cares about their well-being. Further, according to Eckler’s Survey on Financial Wellness in the Workplace, more than eight in ten employees want some type of financial education at work.

Financial Literacy

Employers can play a valuable role in promoting financial literacy for Canadians. According to a survey conducted by MNP, only 15% of Canadians believe they have strong financial literacy skills.

Why Teamworth

Self Service

Employers can allow their employees to manage their own comprehensive wealth plan through Teamworth's modern, mobile-friendly, and dynamic user interface. Employers do not have to provide any hand-holding as Teamworth handles all aspects of on-boarding, support and ongoing monitoring.

Comprehensive and Evolving Plans

Teamworth manages all aspects of financial wellness, including retirement planning and estate planning. As employees age and life events occur, Teamworth's plans evolve and change automatically to accommodate new circumstances. Financial literacy is also enhanced through curated articles and videos.

Access to Experts and Services

Teamworth dynamically assesses the employees' needs and offers to match them with top-notch third party experts such as financial planners and estate lawyers or to curated discounted self service third party services. Employees have complete control over their own plans, and Teamworth never shares identifiable personal financial information with third parties without the employee’s permission.

Compliments Existing Benefits, Not Replace

Teamworth can help employees better understand and utilize your benefits programs (such as RRSP, DCP and stock option plans) by integrating those benefits into their overall financial, tax and estate plan. Planworth does not directly provide investment management services and focuses on long-term financial wellness.

Secure/Privacy

Teamworth is secure, hosted in Canada and employees can be assured that their identifiable personal financial information is not shared with their employer. Further, employee data is never sold or provided to third parties for marketing or cold calls.

How Teamworth Works

1) Invitation/Sign-Up

Teamworth's on-boarding process is designed to be quick and easy for both employers and employees. Once an employer has signed up with Teamworth, they can invite their employees to the platform via a personalized email. The email will include a secure link to sign up for a Teamworth account through their desktop or mobile browser - there is no need to download an app. Teamworth handles all aspects of on-boarding, support and ongoing monitoring.

2) Discovery Tool

Teamworth's self-service Discovery Tool lets employees create a comprehensive picture of their life, so we can help them better plan for their future. The tool allows employees to confirm personal information, add family members and gather data related to goals, income, assets, liabilities, pensions, insurance and estate planning documents. The profile can be updated anytime to account for a change in circumstances.

3) Financial and Wealth Insights

The employee will have access to a self-service Dashboard that shows them insights related to all aspects of financial wellness including retirement planning, debt management, estate planning and tax planning. The employee can create “what if” scenarios to see the impact of their decisions on their financial plan, see what steps they need to take next to get on track and review curated articles or videos.

4) Access to Experts and Services

Teamworth dynamically assesses the employees' needs and offers to match them with top-notch third party experts such as financial planners and estate lawyers or to curate discounted self-service third party services. Employees have complete control over their own plans, and Teamworth never shares identifiable personal financial information with third parties without the employee’s permission.

5) Monitor/On-Going

Employees can sign in and review their financial plan or update it at any time. Teamworth's insights and plans are dynamic and evolve with employees as they age or encounter life events like having children. Further, employees are alerted by email if a particular news event impacts them such as a tax change or tax planning opportunity announced by the Government.

Interested? Reach Out!

If you are an employer interested in Teamworth for your employees, or you are an employee that would like your employer to provide you with access to Teamworth, fill in the form below and contact us. A Teamworth representative will contact you to provide a demo, discuss pricing and set you up on a free trial.