HAI Group, a Connecticut-based provider of insurance to the public and affordable housing industry prides themselves on taking a holistic approach to their wellbeing benefits. To accomplish this, they offer their multi-generational workforce physical, mental, social, and financial well-being resources. After partnering with Marsh McLennan Agency (MMA) they realized they could be doing even more to support their employee's financial well-being.
HAI Group began their partnership with MMA in November 2022 to help enhance and optimize their 401(k) retirement savings plan benefit offered to employees. While advising on 401(k) strategies, James O’Grady, Senior Retirement & Wealth Consultant, and Andrew Bayliss, Executive Vice President of Retirement & Wealth Services at Marsh McLennan Agency, introduced Todd Capute, HAI Group HR Operations Manager, to MMA Prosper Wise. This proprietary financial well-being platform provides employees and their family members access to a powerful, easy-to-use platform that delivers personalized financial advice tailored to the individual’s financial profiles and goals. MMA Prosper Wise offers one-on-one personalized advice, unlimited access to financial coaches, education, and customized tools at no additional cost to employees and without any product sales or individual commissions.
“We are extremely impressed by Marsh McLennan Agency’s proactive approach and insights into an offering we didn’t know we were missing.” says Capute. “The MMA Prosper Wise offering has been such a positive addition to our overall wellbeing program for both employees and their families.”
Empowered by the opportunity to take control of their financial futures, HAI Group’s employees quickly embraced the program. A key benefit of MMA Prosper Wise is that family members can also access the website and assessments. Currently, there are 231 total users at HAI Group, inclusive of employees and their family members, surpassing their employee count of 170. “I can see the relief on people’s faces after a meeting, knowing they have an achievable and actionable plan to tackle their specific financial situation. It’s an incredible feeling to give people a sense of control over their finances and help them plan for a rewarding future,” says Jennifer Sahady, MMA Senior Financial Wellness Consultant, who is part of HAI Group’s personal consultant team.
For personalized guidance, MMA advisors conducted 65 one-on-one meetings with HAI Group employees. During these meetings, advisors discuss support and advice tailored to the individual’s goals, life stage, and financial situation, empowering employees to make informed financial decisions for themselves and their families. In addition to scheduled one-on-ones, there are regular in-person meetings held with the advisors as they address a topic at large. Attendance at these financial wellness meetings exceeded attendance at other company sessions that were focused on physical and mental health, highlighting the value employees placed on their financial wellbeing.
The success of HAI Group's efforts to implement a financial wellbeing program has not gone unnoticed. MMA nominated HAI Group for a Retirement Advisor Council’s (RAC) Financial Wellness award, recognizing their commitment to employee financial wellbeing, which they are the proud recipient of.
Marsh McLennan Agency's retirement services team has played a pivotal role in improving HAI Group's employees’ confidence around their financial wellbeing. Through the implementation of MMA Prosper Wise and personalized support from MMA advisors, HAI Group employees have gained the knowledge and tools to make informed financial decisions for themselves and their families.
