Cohoes, N.Y.-based Ayco, a Goldman Sachs company, announced on Tuesday the launch of a digital platform offering planning solutions linked to employee financial wellness.
At launch, the Ayco Marketplace offers both proprietary solutions and curated products and services from third parties across several areas, including personal loans and savings, student loan refinancing, insurance, investment management and charitable giving, according to a company announcement.
“As the role of the employer continues to shift, Ayco is committed to providing our corporate partners with the financial counseling tools to serve as a north star for their employees; a particularly important objective as millions of Americans are struggling financially during the COVID-19 pandemic,” said Larry Restieri, Ayco CEO, in comments released on Tuesday. “By adding financial products and services to Ayco’s platform, we are empowering employees with both the knowledge and solutions needed to make confident and prosperous decisions in their personal finances.”
Ayco itself offers company-sponsored financial counseling and wellness services to employees – Ayco Marketplace complements those offerings with solutions via a digital interface.
Through Ayco Marketplace, employers will be able to customize which solutions are made available to employees through an open-architecture platform. They will not only be able to curate which products and services are made available to their employees as a whole, but also adjust the accessibility of certain services and product where appropriate.
“In a world full of uncertainty, more than ever employees are looking to their employers for resources and guidance to get them through this challenging period,” said Greg Wilson, Head of Ayco’s institutional client business, in released comments. “We believe the Ayco Marketplace will help improve financial wellness and bring peace of mind to our clients’ employees across the nation.”
Marketplace partners at launch include Betterment, commonbond, pinkaloo, Marcus by Goldman Sachs, and Ayco’s Protect services.
Ayco Marketplace is included in Ayco’s coaching and planning programs.
In the future, Ayco Marketplace will include annuities, investment accounting and tax preparation.