Groups vs. Organizations: Employer financial wellness

Introduction to Groups & Organizations

Savology works as a comprehensive and scalable financial wellness solution for advisors and other financial professionals to work with employers. Here's what that might look like:

• Provide corporate financial wellness programs or benefits through employers
• Win more corporate retirement plans by providing a differentiated service
• Find new private clients by prospecting through large groups of employees

Each advisor and employer have different needs, expectations, and employee demographics, which is why we offer customizable options to fit any and all needs.

Employer Groups & Organizations

Savology Groups and Organizations both allow you to separate clients and employees based on the criteria that best fit your needs. 

Employer Groups are included in our Advisor Advanced tier, and allow for some limited customizations on a per-Group basis. Generally speaking, Groups are most approproate for an advisor-led solution and financial wellness program to service an employer. 

Unlike employer Groups, employer Organizations allow advisors to customize the employer and employee experience to a much greater extent. Organizations are a paid add-on, and are generally used to scale financial wellness services and tools with larger employers or even with smaller employers who might be paying for the financial wellness program. 

When to consider an Organization over a Group?

Advisors often ask when to consider an Organzation over a Group. Because we offer flexibility, most advisors use Groups for a portion of their employer clients and Organizations for others.  Below are a few of the primary reasons to use an Organization vs. a Group:

• Custom links: You want the employee invite link and invitations to include the employer's name or part of their company domain.
• Branding: You want to display the employer's logo on the employee landing page and employee portal.
• Custom settings: You want different account settings to apply to users in the Organization than those of the firm’s Groups. For example, you can add details, resources, and links about the other benefits the employer offers to the relevant sections of the employee's Savology plan.
• Custom providers & resources: You want different custom providers and resources shown to users in the Organization than those of the firm’s. For example, you can add details, resources, and links about the other benefits the employer offers to the relevant sections of the employee's Savology plan.
• Employer admin access: The employer's HR team needs or wants access to their own portal where they can manage new and terminated employees, see aggregate metrics, and update their own settings.
• Enhanced aggregate metrics & reporting: You want more indepth aggregate metrics and reporting than what is offered through Group activity metrics.
• Savology coaching / Savology Pro: You want to include and need help scaling 1-on-1 coaching for employees who require additional support and help.

Wellness Groups vs. Enhanced Wellness Features

Below is an outline of the differences and available options for Groups and Organizations.