Finhabits Expands Offerings with 401k Plans for Minority-Owned Businesses in California
The bilingual financial wellness platform by Latinos for Latinos scales its retirement savings solutions with the new Finhabits 401k plan
LOS ANGELES, April 4, 2022 /PRNewswire/ -- Finhabits, a market-leading U.S. fintech provider by Latinos for Latinos, announced the expansion of its retirement solutions with the launch of the Finhabits 401k plans. The new retirement plans by Finhabits are designed to offer both minority-owned businesses in California and their workers a simple, bilingual and affordable alternative to the state-mandated plan.
California has approximately 800,000 Latino small businesses, many of which are required by state mandate to establish their first retirement plans by June 30, 2022. The ready-to-use Finhabits 401k offers small and medium-size companies a retirement plan and an educational platform — both of which are critical to helping workers build economic security for their future.
"We understand that Latino business owners see their workers as an extension of their families, and they want to help them build economic security for the future," said Carlos Garcia, the CEO and founder of Finhabits. "Our Finhabits 401k can help business owners who may not have been able to offer their employees a plan in the past."
To increase access to retirement solutions, Finhabits has partnered with Smart, a leading global retirement technology provider. To date, Finhabits has over 600,000 members across the U.S. and Puerto Rico. As the first financial wellness platform in both English and Spanish, Finhabits combines fiduciary advice with behavioral nudges and educational content, making it easy to get into the habit of investing for the future.
For more information about the Finhabits 401k plans, California business owners can visit Finhabits.com/401k.
About Finhabits
Finhabits is a leading fintech platform dedicated to making financial services more inclusive in the United States. Through its bilingual financial wellness platform, Finhabits enables Latino business owners and workers to invest for their future, learn smart financial habits and enroll in affordable health insurance.
A Certified B Corporation, Finhabits is recognized for its high social standards. In 2020, Fast Company named Finhabits an Innovation by Design awardee for its Money Journeys, a series of personal finance lessons inside the mobile app.
Investment advisory services are offered through Finhabits Advisors, LLC, an SEC-registered investment advisor. Registration does not imply a certain level of skill or training.
For more information, please visit www.finhabits.com.
About Smart
Smart is a global savings and investments technology provider. Its mission is to transform retirement, savings and financial well-being, across all generations, around the world.
Smart partners with financial institutions (including broker-dealers, RIAs, retirement providers, insurers, asset managers, banks) and financial advisers to deliver retirement savings and income solutions that are digital, customized, and cost-efficient.
Smart, founded in the UK, operates in the USA, Europe, Australia and the Middle East with close to a million savers entrusting over $3 billion in assets on the platform. Smart supports its clients with a 650 strong global team and saw over 2,000% growth in assets on its platform since 2018.
Legal & General, J.P. Morgan, the Link Group, Barclays, Natixis Investment Managers, Chrysalis Investments, and DWS Group are all investors to date in Smart.
For more information, please visit www.smartretire.com.
SOURCE FINHABITS
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