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Benefits plans provide employees with benefits. Practical information is a benefit too, especially in areas like financial wellness. It is difficult for employees to save money when they struggle to make ends meet. One of the reasons some employees may be struggling is they have taken on debt. According to a new survey, 80% of employees have a problematic level of debt. This can be an opportunity for employers to share information through live seminars, video classes, training available online and face-to-face conversations.
Why is this important? There are lots of reasons, but a very timely one is the rising interest rate environment. When people run up charges on their credit cards and carry balances month to month, they are paying interest on the unpaid charges. The Fed Funds rate has risen to 4.50%, yet the average credit card interest rate is 16.27%. If you have "fair credit" the rate might be over 24%!
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
