- Collaborates with FutureFuel.io, a student loan repayment
platform that helps corporate employees pay down student debt
quickly and efficiently with innovative, technology-driven
solutions
- Adds new Retirement Plan Advisor program to expand its
guided, fiduciary retirement plan solutions offered to smaller
businesses
- Launches new user-friendly UBS Financial Wellness digital
experience
UBS Global Wealth Management has announced its enhanced UBS
Workplace Wealth Solutions offering with updated, personalized
digital capabilities to address its corporate clients’ employees
financial wellness concerns to help expand their employees’
understanding of their personal finances.
UBS Workplace Wealth Solutions currently provides 10,000
employers and over 2 million employees with a comprehensive suite
of solutions across financial wellness, equity compensation and
retirement programs, as well as institutional consulting
services.
“The expanded tools and capabilities will help meet the needs of
our current and prospective clients across all generations and
income levels, providing financial wellness guidance and innovative
workplace solutions on a user-friendly platform,” said Michael
Barry, Head of Workplace Wealth Solutions, UBS Global Wealth
Management. “These advancements further our strategic objective to
continue to increase the value we can provide to the workplace—and
businesses of all sizes—while helping employees understand their
corporate benefits and improve the relationship with their
money.”
Student loan debt solution
UBS is collaborating with FutureFuel.io, a platform that
empowers the employees of its corporate clients, to manage student
debt through its programmatic approach. This personalized offering
will consider an employee’s unique financial situation and will
help them manage their student debt using a range of dynamic tools,
including Reassess, Round Up, Giveback, Refinance, and Roll Up.
Users can then choose to implement the actions that help them feel
more confident about their financial future. The average
FutureFuel.io user tends to save $15,000 on accrued interest and
shaves four years off their loan.1
“We believe employers, as well as financial health and wellness
offerings, can no longer ignore the financial struggle confronting
the large majority of the emerging U.S. workforce,” said Laurel
Taylor, Founder and CEO of FutureFuel.io. “The goal in bringing
FutureFuel.io to corporate clients is to provide their employees
access to student debt related benefits that can help to educate
them and ‘crush’ student loans to ease their financial burden and
position them well for future financial health.”
According to recent research, 70% of college graduates begin
their financial journey burdened by student loan debt.1
Furthermore, as of the second quarter of 2020, outstanding student
loan debt stood at $1.54 trillion in the United States, the second
largest after mortgages.2
Beginning this fall, a UBS corporate client can provide its
employees with access to the FutureFuel.io student loan offering
through the enhanced UBS Financial Wellness platform.
Retirement Plan Advisor platform for small businesses
UBS Workplace Wealth Solutions has also expanded its offering to
include UBS’s Retirement Plan Advisor solution, a new advisory
program designed to deliver enhanced services in an efficient
manner to smaller participant-directed defined contribution plans.
Through this program, UBS delivers fiduciary investment advice to
plan sponsors with the flexibility that they have come to expect in
a non-discretionary advisory solution, including a broad selection
of investments and plan providers.
Retirement Plan Advisor is unique in the retirement plan advice
industry — UBS can now deliver its advisory services to more plan
sponsors in the small market by leveraging a new robust platform
created by Morningstar Investment Management LLC, a registered
investment advisor and subsidiary of Morningstar, Inc. UBS
implemented a fully customized version of Morningstar Plan
Advantage, a platform designed to seamlessly integrate fund
research, plan level data, fund status alerts and automated
investment reporting which enables UBS to deliver enhanced services
in an extremely efficient manner.
“With this new offering, UBS is helping clients decrease the
burden of managing their retirement plan for smaller businesses,
and at the same time, providing plan participants with access to
resources that drive positive outcomes – for retirement and their
broader financial well-being,” says Michael Barry.
Digital financial wellness platform
To further enhance its existing UBS Financial Wellness program,
UBS Workplace Wealth Solutions is also launching a new digital
experience. Built around the understanding that an individual’s
finances are deeply emotional, the new digital platform combines
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.
Now more than ever, financial wellness is making a difference.
Recent UBS research shows that financial wellness programs help
employees feel more in control of their financial situation, more
loyal to their employer and motivated to perform their best.3
Notes to Editors
About FutureFuel.io
FutureFuel.io is a platform that supports America’s 45 million
borrowers in paying off their student debt as quickly and
efficiently as possible. On average, FutureFuel.io saves users
$15,000 and half a decade off of their student loan payments
through a personalized Student Debt FinHealth platform that
optimizes federal repayment plan enrollment, automates the
management of unruly student loans, gamifies spare change, and
enables users to discover free money from merchants while shopping
online. FutureFuel.io's comprehensive platform crushes student debt
by empowering users to take small actions that make a big impact.
FutureFuel.io’s institutional investors are full of heart and live
at the intersection of social impact, fintech, and the future of
work. Investors include some of the world’s top VCs including
Salesforce Ventures, Rethink Impact, Vulcan Capital, Fiserv,
Breton, the Financial Health Network, Reach Capital, the Impact
Engine and G9. To learn more about FutureFuel.io’s capabilities
visit: https://futurefuel.io/.
About UBS Workplace Wealth Solutions
UBS Workplace Wealth Solutions collaborates with corporate
clients to deliver customized solutions across a range of programs
for the workplace including financial wellness, retirement, equity
plans and institutional consulting. We currently provide more than
10,000 employers and their 2 million employees in over 150
countries with access to financial guidance, support of benefits
programs and an integrated experience that combines the right mix
of people and technology. We work side-by-side with our clients so
that their employees – and they -- feel rewarded at work and
optimistic about realizing their long-term financial goals.
https://www.ubs.com
1FutureFuel.io website 2Federal Reserve Bank of New York,
Quarterly Report On Household Debt And Credit, 2020: Q2 (released
August 2020) 3UBS research on employee attitudes towards financial
wellness programs, 2020
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201022005686/en/
Media Contacts:
UBS:
Huw Williams Head of Media Relations, UBS Global Wealth
Management Americas +1 (212) 713 3130 Huw.williams@ubs.com
FutureFuel.io:
Jaimee Pavia Prosek Partners jpavia@prosek.com
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