BofA & Merrill Lynch Presentation on Financial Wellness

1. WORKPLACE INSIGHTS™
A New Reality: Creating Financial
Wellness in Your Organization
Katie Nedl, Director of Global Benefits, BlackRock
Steve Ulian, Managing Director of Institutional Retirement and Benefit Services,
Bank of America Merrill Lynch

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Disclosures
Bank of America Merrill Lynch is a marketing name for the Retirement Services business of Bank of America
Corporation (“BAC”). Banking activities may be performed by wholly owned banking affiliates of BAC, including
Bank of America, N.A., member FDIC. Brokerage activities may be performed by wholly owned brokerage affiliates
of BAC, including Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”), a registered broker‐dealer and
member SIPC. Merrill Edge® is available through MLPF&S, and consists of the Merrill Edge Advisory Center
(investment guidance) and self‐directed online investing.
Investment products:
Are Not FDIC Insured
Are Not Bank Guaranteed
May Lose Value
Certain associates are registered representatives with MLPF&S and may assist you with investment products and
services. Unless otherwise noted, all trademarks and registered trademarks are the property of Bank of America
Corporation.
© 2013 Bank of America Corporation. All rights reserved. | AR4FF6F1 | INT‐04‐13‐2685.B
For Plan Sponsor and Consultant use only. Distribution to any other audience is prohibited.
Blackrock is not an affiliate of Bank of America Corporation

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What We Will Cover Today
• What is Financial Wellness?
• A New Reality
• The Role of Financial Benefits
• Case Study: BlackRock
• Key Learnings

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What Is Financial Wellness?
 When may I be able to retire?
 How much may I need?
RETIREMENT
 How do I reduce
my debt?
 How do I save
more money?
BUDGETING
BUDGETING
COLLEGE
COLLEGE
 How much could it cost?
 What are the ways I can
save for college expense?
 Should I rent or buy?
 Is it time to refinance?
HOME
HOME
INSURANCE
INSURANCE
 How much coverage
should I have?
 Do I need an umbrella
policy?
HEALTH
HEALTHCARE
CARE
 How can I prepare for Long
Term Care?
 How will medical expenses
affect my retirement?

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A New Reality
Plan sponsors and employees face an increasingly complex environment for
achieving their financial wellness:
Market
Volatility
Changing
Demographics
The Changing
Face of
Healthcare
Evolving
Financial
Benefit
Landscape

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The Role of Financial Benefits
78%
Feel that the financial benefits they participate in
at work make them more financially secure1
Report they need help managing retirement
savings – but only 21% seek education1
59%
7 out of 10 plan participants
said they’d likely use personal
finance and investment
services if offered through
their employer2
Source: 1) 2013 Bank of America Merrill Lynch Workplace Benefits Report, 2) 2009 Workplace Financial Education Online
Survey

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BlackRock is the World’s Largest Asset Manager
Our mission is to create a better financial future for our clients by building the
most respected investment and risk manager in the world.
• $3.94 trillion in assets under
management (AUM)
• 10,600 employees in more than
74 offices in 30 countries
• Over 1,600 investment
professionals in 21 locations
• Clients based in more than 95
countries
As of March 31, 2013

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Financial Wellness
We launched Financial Wellness in an effort to help employees answer the question:
“So what do I do with my money?”
ACCESS
LEARNING
EXPERTISE
RETIREMENT
PERSONAL INVESTMENTS
COLLEGE SAVINGS
FINANCIAL WELLNESS
BlackRock has always believed we have a special responsibility to help our
employees – and their families – build a better financial future.

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Financial Wellness
In the initial months of the “launch”, we accomplished the following :
Re‐packaged and re‐
branded a range of
resources and
benefits
Rolled out a number
of new learning
opportunities
around the globe
Brought together the Firm’s financial and
investment resources, educational programs, and
benefits in one place – our new Financial
Wellness pages accessible though our HR portal –
to help employees learn more about the
resources available to them and continue
planning for their financial future
Made these
valuable resources
& benefits available
to immediate family
members, where
possible
Used Financial
Wellness as a
spring‐board for
communicating the
larger Total Rewards
picture to
employees
Opened the lines of
communication for
U.S. employees
through an internal
Financial Wellness
social media space
Increased
awareness to help
employees better
understand the
value of BlackRock
offerings (based on
direct employee
feedback)
But there was still something missing… employees were looking for more direct
guidance on a one: one basis. We turned to Bank of America Merrill Lynch to
see what we could develop together.

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Outcome
Education and
Planning Offers
Communication

Driven by BlackRock
to highlight the
integration of the
benefits provided
through Institutional
Retirement & Benefit
Services team with
the services provided
by the rest of Bank of
America Merrill
Lynch.

Executed through
the Retirement and
Benefit Contact
Center to connect
with BlackRock
employees as they
responded to
communications as
well as proactively
reaching out to
employees to make
them aware
of the benefit.
Fulfillment

Through BlackRock’s
relationship with Merrill
Edge®
Financial Solutions
as well as Merrill Lynch
Wealth Management
Financial Advisors,
the tools and
resources available to
retail clients are
brought to plan
participants as well.

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Measures of Success
Attendance to a Financial Wellness learning event in
2012 was approximately 4,000 employees (70%)
The internal Financial Wellness social media space is the
#2 most trafficked site for 6 months running
97% participation in our 401(k) plan with account
balances of 3x the average American and 2x our
industry peers1
Employee opinion survey results (conducted in Dec
2012) show a highly favorable response to the
question about providing benefits that meet their needs
(18 points above the financial services norm)
Source: 1) Bank of America Merrill Lynch
It’s a Journey
• We’re continually looking
for new and innovative ways
to incorporate financial
wellness into our
employee’s daily lives
• The Financial Fitness Challenge
in January 2013
• Retirement “check‐ups” planned
for June 2013
• Communication is key –
you’re probably doing a lot
of the things we are today,
but talking to your partners
about your goals and
communicating things
differently to your
employees generates new
value

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Key Learnings
HR professionals should consider a range of approaches and services that align to
different employee behavior patterns to achieve broad plan success and employee
financial wellness.
•
There is no one answer or magic solution to get employees engaged and on the
road to financial security
•
Many of the challenges BlackRock faced are true across most organizations
•
Stronger relationships needed between employer/employee/provider
•
Tailor plan design to fit needs of employees

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Thank You.
Questions?