Complete Guide to Financial Health for Organizations


Hello, Kort McCulley here, and I wanted to take you through the Complete Guide to Financial Health for organizations. I've credited this process that I've seen organizations go through that helps them align and create the most robust, comprehensive outline for their employees and key executives.

And I want to share that with you today, and step one of the essential starting point is what's your vision? Many organizations need to take time to ask this question as to what it is they're trying to create and why they're creating it. Who are they creating it for? A lot of times, people will buy a brand to buy a product, and they're thinking, goodness, this will just be what we need.

But let's start with who we're trying to design it for and what we're trying to create. I get involved with creating solutions for key employees and all the employees in that general. So it's, using, whether it be a retirement plan or 401k, how do we design something and create something for those who are really intending to incent, retain, to attract organizations really need to take time on the front end and ask themselves this question is, What's our vision?

What is it we're trying to create? Who are we creating it for before we buy a product and go down the road? What does that look like? And that leads me to the second item, which is plan design. If we start looking at creating an optimal or an optimized plan design, we would answer that first question is, what's our vision?

What's the vision of who we want to create? Where's the business going? And then, let's ensure we build a solution that supports that organization. The third item really is establishing a clear investment strategy. So if that's being created at the top level for all employees or even for a select few, if we're creating maybe a defined benefit plan or something that's designed and is not driven by the employee, a lot of times with those organizations, they'll have the ability for employees to make their own decision.

Is that the option we want to have through that design process and the vision we'll have gotten to the investment strategy? A third item and we have reached a precise feel as to how we want to create a custom investment strategy that facilitates towards those key employees over that employee base in total. The fourth item is an ongoing annual service platform and some key indicators.

So how do we monitor progress? We're committed to a quarterly, systematic, ongoing process to make sure that progress is made. And it isn't. Hey, we got busy. No, it's already built in. You know that you're going to have this quarterly conversation that ensures that the organization stays in a financial health or healthy position.

And then the key indicators, we monitor some key indicators to say what progress has been made every quarter, on an annual basis to say, where did we start and where are we at today? How many people have been participating? How many are participating today? How much were they contributing? Then how much are they contributing now?

Have the assets grown? Have we monitored the cost? All those things need to be included in that conversation, and then once that's been completed, we shift to the fifth item, which is the employee education experience. And how can the program that we've designed for that group, how can we deliver that to them?

How can we create a unique experience where they feel like not only have they joined a world-class organization, but they've got a world-class one? Experience when it comes to the benefit that's been built for them and that they feel empowered and know that they're well taken care of and will be on track for a safe, secure retirement or a great financial future.

And the last item is how we execute this plan and create an ongoing cadence to ensure everything we've lined out from vision to design, to investment strategy, to the annual service and progress monitor to the employee experience. How do we make sure that happens on a consistent, ongoing basis so that true progress can be made and can be monitored?

And that comes down to a consistent cadence, which is sometimes quarterly. Some people need a monthly check-in to ensure that's happening at the very least annually. That way, we know when we look back at that organization's financial health and whether that program is being managed correctly and is done consistently.

Ongoing monitoring process. That's my overview of the Complete Guide to Financial Health. Happy to walk through it on an individual basis, but I wanted to give you an overview today. Again, Kort McCulley and I look forward to connecting with you soon. 


What Is Your Vision?
Investment Strategy
Annual Service Plan 
Education Experience
Ongoing Monitoring

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