One of the issues highlighted by the pandemic and the big disruption to normal patterns of work and life was the impact on mental as well as physical health of employees. A US wealth management group is doing something about it.

Advisor Group, a US wealth management network, has launched a “wellness program” to provide physical, mental and financial health support to its 2,300 employees and their families.

The new program involves partnerships with virtual behavior healthcare company, Talkspace and healthcare firm Aetna.

The offering covers all the employees from Advisor Group's network of firms: FSC Securities, Royal Alliance Associates Inc, SagePoint Financial, Securities America, Triad Advisors and Woodbury Financial Services.

The program launch comes at a time when firms are trying to figure out how to help employees who have had to handle an abrupt shift to remote working and disruptions caused by the pandemic. Advisor Group is a significant player: A portfolio company of Reverence Capital Partners, it says it is the nation's largest network of independent wealth management firms, serving about 9,700 financial professionals and overseeing about $515 billion in client assets

"The Covid-19 pandemic had a profound impact on all our mental and physical health, and recent market volatility and economic uncertainty has only exacerbated this toll,” Advisor Group's president and chief executive, Jamie Price, said. “Experts designed this program to enable our employees to address all aspects of healthy life so that they are best positioned to continue delivering outstanding service to our network of financial professionals."

Mental health support will be provided by Talkspace, a New York-based online and mobile therapy company that matches individuals with licensed therapists.
Attain by Aetna is a mobile app that rewards participants for staying active and healthy.

Advisor Group Athlete Program reimburses participants for fitness event entrance fees and provides other incentives, the firm said in its statement. 

For a different angle on healthcare, technology and the involvement of family offices in investment in this space, see this article from 2021.