Finances are the biggest source of employee stress – more than jobs, health, and relationships combined. We are helping our 401(k) clients alleviate this stress for their employees by partnering with Origin, a financial wellness platform that provides tools and resources to manage money wisely.

Origin is now embedded in the Sequoia mobile app and gives employees free unlimited online access to Certified Financial Planners (CFP) who can discuss the tools and strategies they need to better manage their money and make the most of their compensation, benefits, and equity awards.

It’s a unique offering for a 401(k) adviser. We’re proud to be able to offer this support to our clients and their employees, who might not normally seek the help of a financial planner because they don’t have time to find one or don’t think they have the budget for it.

Origin offers a range of services. From the Sequoia app, employees can find support and financial education for major life events such as weddings, medical events, divorce, and inheritance issues. They can also schedule virtual meetings with a CFP to get help with budgeting, debt management, investments, benefits, and tax questions, and come up with a plan to move them into greater financial wellness.

They can get answers to key money questions such as:

  • How much can I afford to spend on a car while paying down my student loan?
  • How much should I be contributing to my 401(k) to say on track for my retirement goals?
  • How much can I spend on a house if I also want to have kids?
  • Can you help me understand what my equity offering?

Over the years, our clients have come to us for assistance in helping employees better understand their company equity awards because they cannot offer advice due to lack of expertise or not wanting to take the fiduciary risk. Through our partnership with Origin, we’re now able to help our client’s team members develop strategies around:

  • Timing of equity sales
  • Tax impacts
  • Concentrated positions

For employees, Origin’s process is easy and efficient.

  • Set up a profile in the app and complete a self-assessment to tell Origin about your goals and wishes.
  • Connect your checking, savings, retirement, and other investment accounts for a 360-view of your finances and total net worth.
  • Schedule a virtual meeting with a financial planner and get help creating a plan.
  • Take action on specific items.
  • Check-in anytime with questions, or when plan updates are needed. 
  • Access a library of specialized financial education anytime.

Extracting the maximum value that employees get from their total rewards is something we think is missing from most financial planning platforms. Yet it’s so important to help our clients alleviate some of the stress that saps productivity and leads to greater employee turnover. It’s also a great way to attract and retain talent in today’s tight labor market.

If you’re interested in building out your financial wellness strategy, contact your Sequoia advisor or connect with them in HRX to get started.

Disclaimer: This content is intended for informational purposes only and should not be construed as legal, medical or tax advice. It provides general information and is not intended to encompass all compliance and legal obligations that may be applicable. This information and any questions as to your specific circumstances should be reviewed with your respective legal counsel and/or tax advisor as we do not provide legal or tax advice. Please note that this information may be subject to change based on legislative changes. © 2021 Sequoia Benefits & Insurance Services, LLC. All Rights Reserved

Molly Knapp – As VP, 401(k) Services, Molly is responsible for leading the 401(k) team- both in adding new clients and continuing to enhance our clients’ experience. In her free time, Molly enjoys spending time with her family or running/hiking with her 2 dogs.