Whether you’re planning to integrate a financial wellness technology solution or a full-on digital transformation effort, here are a few ...
Alpharetta, GA and Charleston, SC (11/14/2019) — Mentoro, a financial education company providing turn-key Collaborative Financial Wellness℠, has partnered with Questis and now uses its technology platform to power their program. Mentoro realized early that people are not learning how to handle their finances, even from the most basic perspective. If this trajectory is not corrected, the disastrous snowball of debt and Americans’ inability to retire will only continue to spiral. Mentoro is out to solve this problem by partnering with individuals and companies to provide actionable, accountable financial education to as many people as possible. They believe in collaborative financial wellness and the empowerment it gives people to change their lives.
Mentoro was born a division of Merit, a leading wealth management firm, to focus on financial wellness and education in the southeastern U.S. After building some of their own technology and pairing that with existing on-site meetings, educational sessions, and other plan benefits, they realized that the opportunity to help people and plans was much bigger than they originally thought. They then decided to stop looking at financial wellness as part of their offering, and instead became a standalone company positioned as a customizable, unbiased, and personalized program.
Mentoro’s approach to financial wellness is wholly collaborative and is based on three key elements: human interaction, engaging technology, and behavioral finance. Personalization is key when it comes to the program, as the person is the focus of everything from onboarding and logistics, to progress, accountability, and beyond. “We are going to educate everyone,” says Whitney Queen, President, Mentoro, “It’s a matter of health, not wealth. Mailroom to boardroom. Everyone needs help and that help needs to be delivered in the way an individual can understand and act on it, at the right time. That is personalization for the person- and that’s what we’re all about at Mentoro.”
By having Questis’ technology power their program, Mentoro can easily deliver specific financial guidance, set action items and goals, and monitor progress over time. This can take place on an individual level and at the employee population level as well. “Collaborative financial wellness is key,” says Casey Stegman, SVP of Business Operations and Strategic Planning, Mentoro, “An amalgam of many components, wellness programs and real progress cannot be accomplished by technology alone, nor humans alone. It HAS to be a delicate combination of both – and we’re really proud that what we’re offering at Mentoro is just that.”
“Collaborative financial wellness is key.”
– Casey Stegman, SVP of Business Operations and Strategic Planning, Mentoro
“Mentoro doesn’t define financial wellness, as they acknowledge that the term means something different to everyone,” said Steve Wilbourne, CEO Questis. “They encourage their partners and program members to figure out what it means to them. Financial wellness is a process not an event. Unlike a fad diet, it has to be a lifestyle, just like your health. Figure out what it means for you, make it a habit, and live a better life. We’re thrilled to partner with like minds we’ve found in the Mentoro team.”
In a few years, Mentoro plans to be a well known industry leader and change driver, and hopes that by that time financial wellness has become as widely understood and valued as health wellness programs are today. In the meantime, Mentoro will continue to resolve the looming retirement crisis in America through collaborative financial wellness.
Mentoro is a financial education company providing a turn-key Collaborative Financial Wellness℠ solution derived from the belief that financial mentors are the last great hope for educating the working population on healthy money habits and positive behavior change. We seek to spread financial literacy in the workplace by providing experienced educators. Mentoro creates custom programs tailored to company need that ease monetary stress and equip employees with how to plan for their future. We place an emphasis on supporting our partners by driving positive participant results.
Mentoro specializes in plan leadership and solutions nationwide to plan participants, plan sponsors, advisors, benefit providers and more.
Questis is a configurable participant management and financial wellness technology platform that allows retirement advisors and financial service providers to easily deliver personalized financial wellness programs to their plan sponsors and participants. Founded by experienced financial advisory professionals, Questis pairs the power of software with the customization and communication required to fuel behavior change.
With seamless integration tools, processes, and human experts, Questis makes participant management and financial wellness simple and scalable for everyone. Now, anyone looking to run their business more smoothly or to offer financial wellness as a service can do so simply, and customized to their requirements and branding.