METLIFE FORMS STRATEGIC ALLIANCE WITH EY TO DELIVER WORKPLACE FINANCIAL WELLNESS SOLUTION
Two Industry Leaders Joining Forces to Help Employees Take Action on Their Financial Wellbeing
NEW YORK, March 22, 2018
MetLife (NYSE: MET) announced today that it has formed a strategic alliance with Ernst & Young LLP (EY) that will drive the creation and delivery of a cutting-edge workplace financial wellness solution. Launching in spring 2018, PlanSmart® Financial Wellness will focus on behavioral change, giving employees the tools, guidance and support they need to improve their financial wellbeing.
The offering builds on MetLife’s PlanSmart workplace financial education program, which has offered workshops and one-on-one consultations for more than 20 years to over 2,000 Group customers. MetLife’s experience in this space, along with in-depth research and customer feedback, will help shape the solution’s new capabilities.
“Employees are stressed about their finances—MetLife research has found just over a third (38%) feel in control of their finances, compared to 44% in 2015—and they are looking to their employer for help,” says James Reid, executive vice president, MetLife. “The combination of MetLife’s understanding of employee needs and EY’s leading employee financial wellness services uniquely positions us to give employers the robust program they need to help empower employees to take action.”
PlanSmart Financial Wellness will bring together MetLife’s decades of experience in delivering workplace benefit solutions and financial education with EY’s innovative, high-tech approach to offering financial education and counseling. The result will be a customized, goal-oriented approach to financial wellness that will meet employees where they are, offering the tools via channels they prefer. This will include online and phone support, both offered by EY.
“We’ve designed a hybrid digital/human financial wellness service that supports users as they manage the twists and turns of their financial life journeys," said Lynn Pettus, national director of employee financial services, Ernst & Young LLP. “PlanSmart Financial Wellness will be an exciting new change in our ability to service and engage employees with varying levels of comfort with financial concepts and new digital technologies.”
The solution will empower employees and their families to make informed money decisions to improve their finances today and prepare for their financial future.
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
This news release has been issued by Ernst & Young LLP, a member firm of EY serving clients in the US.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.