Bailey

Bailey

New digital technologies and advancements in business software have in recent years helped to expand the range of commonly offered employee benefits, making it easier for employers to include things like telehealth services and pet insurance in a company’s benefits package.

Will Bailey, chief strategy officer at West Hollywood-based InvestCloud Inc., said one of the most beneficial benefits employers can offer in the modern corporate workplace is financial guidance.

“When you look at the way that people interact with money, especially in the U.S., many people don’t even know the questions that they need to ask,” Bailey said, adding that this uncertainty can lead to heightened levels of stress.
Providing employees with tools necessary to manage their finances is the principle behind a software platform called InvestCloud Pink, which the company first offered to its own workers.

The platform is based on InvestCloud’s signature financial software offerings, which is used by banks and asset managers for financial planning, client communication, and the trading and sale of financial products. Officially launched just before the start of the pandemic, InvestCloud Pink is currently used by more than 100,000 employees across multiple firms, according to Bailey.

On Jan. 20, InvestCloud announced a partnership with Minneapolis-based Ameriprise Financial Inc., under which users of InvestCloud Pink will be able to consult directly with Ameriprise advisors when using the platform.

The InvestCloud Pink platform gives users the opportunity to learn about money management strategies and discreetly compare notes with other users through a system designed to reward users for becoming more financially literate. Bailey said the Ameriprise partnership will make the platform more accessible to employees looking for more direct assistance or simply seeking outside confirmation that they are making smart financial decisions.

Some employees “want these technology tools,” said Bailey. “They want to be able to put all their information in one place and have a to-do list, but every once in a while, they want to reach out to an advisor or a coach and say, ‘Hey, is this right?’”
InvestCloud Pink is one of several software platforms offered by InvestCloud, which has grown to become an industry leader in the financial software industry since it was founded in 2010. According to the company, it now has more than 20 global offices, and its software is used in the management of more than $6 trillion of assets.

Still, Bailey said the InvestCloud Pink platform is one he is particularly passionate about.
“I wanted to build something that would help people like me as they grow throughout their career,” Bailey said. “It’s something I wish I had.”

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