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BrightPlan expands financial wellness platform


BrightPlan, a specialist in financial wellness programs for the Fortune 1000, has launched a series if enhancements to its employee benefits platform which aims to help increase the profitability of employers. 

BrightPlan’s new functionality provides: personalised recommendations to employees for selecting funds in an employer’s 401(k) using BrightPlan’s goals-based planning wizard; investment insights for all linked investment accounts, including portfolio analysis and fund fees to help employees better manage their money; and a powerful spending analysis in BrightPlan’s budgeting module to help employees make wise spending decisions.

“BrightPlan’s financial wellness platform helps power growth by increasing profitability and transforming a company into an employer of choice,” says Marthin De Beer, CEO and Founder of BrightPlan. “In labor constrained markets, a financial wellness program is a clear competitive advantage in retaining and attracting talented employees. The new capabilities in BrightPlan make the platform even more valuable to both employers and employees.”
BrightPlan brings together the benefits of both professional financial advisors and digital financial advice. Being SEC-registered and CEFEX-certified fiduciaries that deliver independent, objective advice and are required to act in the best interest of clients is important to employers and employees.

For employees, BrightPlan’s financial wellness platform delivers certified fiduciary advice, tailored financial education, personalised goals-based planning, automated investing, debt reduction, progress tracking, spending analysis and budgeting. 

For employers, BrightPlan provides an assessment of the state of financial wellness across their employee base and identifies ongoing opportunities to help employees increase their financial acumen. The data-driven platform provides objective data and unique insights that assist employers when making adjustments to benefit programs and alleviate the financial stress of employees. 

BrightPlan’s new functionality is the latest in a series of growth initiatives by the firm. In May, the company closed a USD12 million Series B round from existing investors, bringing its total funding to USD37 million. In February, BrightPlan hired Senior Vice President Karl Holmlund to expand its sales team. 

In January, BrightPlan’s sister firm, Plancorp, a 35-year-old wealth advisor with over USD4 billion in assets under management, opened a San Jose office to serve its expanding client base in the San Francisco-Bay Area.

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