Press release

eMoney Advisor Reveals Findings on Financial Wellness, Announces New Partnership with Financial Literacy Advocate Mac Gardner

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eMoney Advisor (eMoney), a leading provider of technology solutions and services that help people talk about money, today shared findings from a recent study1 on how COVID-19 has impacted the overall well-being of Americans. The results show that nearly three-fourths (73%) of respondents feel their financial situation in 2020 had a negative or extremely negative impact on their mental health, which indicates a deficiency in financial wellness. eMoney defines financial wellness as “a positive state of being resulting from a healthy relationship with money and the impact it has on other aspects of life.”

The current COVID-19 pandemic has also emphasized a lack of financial wellness as millions of Americans navigate economic uncertainty with many in a state of stress due to their finances. According to the same eMoney study, almost two-thirds (61%) of respondents said COVID-19 has made their financial situation worse. Additionally, nearly a third (32%) said that not being able to find reliable and sound financial advice, as well as a lack of understanding or financial education were their biggest barriers to achieving financial wellness.

“Throughout our 20-year tenure of providing financial planning technology to more than 75,000 advisors, we have always acknowledged that the benefits of a financial plan expand beyond financial gains,” said Matt Schulte, CFP ®, head of financial planning at eMoney. “Now, especially as the world tries to recover from a pandemic, we are committed more than ever before to helping people achieve financial wellness through quality educational resources and access to best-in-class financial tools and technology.”

New partnership with Mac Gardner

To further expand its financial wellness efforts following the launch of Incentive, eMoney’s new self-led financial planning and wellness app, the firm has formally engaged in a collaborative and consultative partnership with Mac Gardner, published author, financial literacy advocate and founder of FinLit Tech, a company focused on building the bridge between financial literacy and financial technology.

“Mac’s expertise and passion for financial literacy are welcome additions to the team,” said Celeste Revelli, CFP ®, director of financial planning at eMoney. “As our survey results indicate there’s a dire need for financial wellness in this country, and we want to change that. eMoney’s vision of ‘financial peace of mind for all’ has been our north star as we work to address the needs of people across the wealth spectrum, and we’re excited to have Mac on-board to help us make more progress.”

Gardner, who is also a certified financial planner and holds several industry designations, will serve as both a consultant and brand ambassador for eMoney, evangelizing the importance of financial wellness to the industry and beyond through events, panel discussions, eMoney’s Heart of Advice blog and more.

“I am thrilled to partner with the talented team at eMoney and aid their work in the financial wellness space. They are a leader in the industry, and we are at a critical time when people are in need of overall financial guidance,” Gardner said. “I look forward to collaborating and sharing my professional experiences in banking, lending, insurance, retirement planning and wealth management, all of which are components of one’s financial journey. With eMoney as a partner we can build a financial wellness ecosystem that helps a wide spectrum of people seeking education and, more importantly, the tools needed to achieve financial confidence.”

eMoney has more financial wellness initiatives coming in 2021, starting with a financial wellness series in April as part of financial literacy month. Additional details will be shared in the weeks and months to come.

For more findings from eMoney’s financial wellness survey, click here. To learn more about eMoney’s financial wellness app, Incentive, visit emoneyadvisor.com/incentive.

Note to Editors

[1]eMoney Advisor surveyed 2,000 nationally representative respondents from 12/09/2020 to 12/11/2020.

About eMoney

eMoney Advisor, LLC (“eMoney”) provides technology solutions and services that help people talk about money. Rooted in holistic financial planning, eMoney solutions strengthen client relationships, streamline business operations, enhance business development and drive overall growth. More than 70,000 financial professionals across firms of all sizes use the eMoney platform to serve 4 million households throughout the U.S.