SESSION OVERVIEW:

Financial stress affects productivity, and recent events in Canada and around the world have amplified the need to provide sound advice and support around income security now and in the future. Employers who offer the benefits of group investing to both employers and employees through a group savings/pension plan as part of the employee compensation package can contribute to financial relief in their workplace. Specifically, this may include employer matching of funds in various investment accounts: RRSPs, TFSAs, RPPs, money purchase plans, or defined contribution plans.

APPROACH:

The composition of workforces has changed significantly in recent years, as many people are "employed" as subcontracting with businesses. Meeting the needs of employees, and potentially, subcontractors, in a cost-effective way is an important approach for companies to add benefits to both a new and diverse workforce that could include an aging Baby Boomer population. When a group plan includes employer-matching in various investment accounts, the employer makes it possible for the employee to multiply human capital into financial capital for future security.

WHAT YOU WILL LEARN:

• Sound choices can be discussed in terms of three opportunities: advisor to the employer; employer to employee; advisor to employee all within the context of the same company. Help employer-clients to develop a strategy that is not only cost effective, but will also keep them competitive and able to attract and retain talent.
• When an advisor is determining who to partner with, small to mid-sized companies are an important target market.
• This is also a good way to be introduced to a diverse investor base and bring a solution to financial stresses. Learn how to ask effective questions of employees that will identify the needs of the workforce and to determine options that will meet their financial needs and expectations.

LEARNING ACTIVITIES: To test the learning process, the student will answer multiple-choice questions and contemplate the role of the advisor.