|Fidelity Investments® Enhances Integrated Benefits Portfolio with HR Services, Payroll, Health Savings Accounts and More
BOSTON, April 11, 2019 -- Fidelity Investments®, one of the industry's most diversified financial services companies with $7.4 trillion in client assets, today announced the launch of Fidelity Works, a comprehensive suite of benefits services created exclusively for small and midsized businesses.
Fidelity Works offers small and mid-sized businesses a single, integrated experience to help manage a suite of company benefits that include payroll services, HR and benefits administration, health savings accounts (HSAs) and retirement savings plans. It also includes emerging benefits such as student debt repayment programs and charitable giving programs. While small and midsized businesses often have to manage multiple technologies, solutions and providers to administer their company benefits, Fidelity Works is a "one-stop" shop that can help employers spend less timeand money on administration and more time on activities that can help grow their business.
Building on years of experience as a trusted benefits provider for thousands of larger organizations, Fidelity Works extends Fidelity's breadth of best practices, technology and expertise to small and mid-sized businesses, as well as the third parties who work with these employers -- which may include retirement advisors, employee benefits brokers, banks and certified public accounts (CPAs). Fidelity Works also improves the experience for employees of small and mid-sized businesses by providing an integrated view of their workplace benefits and delivering the same level of service and support that is available to employees at larger companies.
"Time is money. We hear that in all facets of our lives, but it's especially true for small and mid-sized business executives who are wearing multiple hats servicing all aspects of HR, payroll and employee benefits while trying to run their businesses as efficiently as possible," said Chris Hock, head of Fidelity Benefits Marketplace. "Not only does Fidelity Works offer a full suite of benefits services through a single provider, but with that comes Fidelity's unparalleled customer service and expertise that clients - and their employees - demand."
Fidelity Works - An Integrated Suite of Benefits to Drive Value
Building on the tight integration between Fidelity's payroll and retirement savings products, Fidelity Works provides employers and advisors with access to a broad portfolio of solutions:
Current small and mid-sized Fidelity clients will receive the same premium-level of service, and continued access to their accounts. Through Fidelity Works, clients will see a tightly integrated experience and support of specialized resources as new services are added.
- Fidelity Payroll - full payroll and contribution processing, tax services, time and attendance management and Affordable Care Act (ACA) reporting.
- Fidelity HR and Benefits Administration Services - one solution providing employee HR data management, recruiting, compensation management, talent development, and administration of health, disability, life, dental, flexible spending accounts and vision benefits. It also allows employers to autom ate common HR tasks and offer s self-service capabilities to employees.
- Fidelity HSA® - platform-agnostic health savings account that seamlessly integrates with Fidelity payroll, retirement and benefits administration platform.
- Fidelity Retirement - traditional 401(k) retirement savings plan including recordkeeping, trustee, testing and reporting services.
- Emerging Products - an evolving suite of new solutions to address other employee needs and interests, especially those of millennial workers, including Fidelity's Student Debt Employer Contribution Program and Fidelity's recently-launched Workplace Giving Program.
- Financial well-being and advice - financial education to help coach employees on their next step to financial wellness, as well as holistic investment advice to help employees create a financial plan and access to an investment professional to help them stay on track.
For more information, please visit www.FidelityWorks.com.
For more information: https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/press-release/fidelity-works_04112019.pdf