When Paul Nigrelli, CFO of Equilend, a New York-based technology company that services the banking industry, hosted a financial education meeting for his employees a couple of years ago, he was “very surprised” at the lack of financial knowledge his employees had. Many employees had their retirement funds sitting in a money market account or in a single mutual fund or they hadn’t revisited their asset allocation in years.
Nigrelli felt an obligation to do something to help, but also knew that whatever he chose to do, it had to be simple. “Employees are intimidated by brokers and investment advisers and nobody wants to spend that kind of money,” he says.
