The definition is grounded in the existing research literature, expert opinion, and the experiences and voices of consumers, which were gathered through 60 hours of in-depth, one-on-one interviews with both working-age and retired consumers. (Photo: Shutterstock)

Recently, I've seen a number of articles lamenting the perception among both plan sponsors and advisors that there is no widely accepted, agreed-upon definition of financial wellness. I myself have referenced this perception, in relation to determining an ROI for financial wellness.

While confusion about what financial wellness means may be the case in practice, I have to disagree regarding the existence of a definition. We actually do have one, and we've had it for 4 years—since 2015.

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