Exclusive look: How we define financial wellness

Our mission is to help people live better financially. But what does it mean to be financially well? At Bank of America, financial wellness is not just a lofty aspiration—it is actionable, measurable and defined by research and science. We have helped set the standard for financial wellness and are using that experience and insight to guide employees toward positive behaviors that will help them live their best financial lives. Our new white paper provides a behind-the-scenes look at how.

Financial Wellness: Helping improve the financial lives of your employees

Our new white paper reveals the proprietary insights, research and formula that drive and support our innovative approach to financial wellness.

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Drawing on our experience working with participants, industry research and our behavioral science team, Chief Investment Office and other professionals across the company, we created a hierarchical framework that identifies the components of a financially well individual as well as the key behaviors we believe can serve as a roadmap to good financial habits. In fact, this framework was integral to the creation of the Financial Wellness Tracker, which assesses an individual’s financial situation, generates a financial wellness score, and provides a prioritized, suggested action plan they can consider to help improve their financial health.

If you’d like to discuss strategies to enhance your financial wellness programs, please contact your Bank of America representative.