Harris, Rothenberg Report Shows Increase in Demand for Employee Assistance Programs

A yearly report issued by HRI, this year's trends report differs from those of the past in one critical area: a focus on the economy and personal finance.

Calls to EAPs in the past year have increased in intensity and need. In 2008, HRI witnessed a nearly 10 percent increase in the number of calls coming into EAP counselors. HRI experienced a 13 percent increase in the number of calls for financial services in the past year. Statistics show that there have been increases in 401(k) hardship withdrawals in 2008. See HRI Press Release.

Three Out of Five Employers Maintain 401(k) Match Despite Economic Crisis

A survey of employers released by WorldatWork and the American Benefits Council, found that the financial crisis has not significantly discouraged 401(k) contributions or participation. See WorldAtWork Press Release

Richard Victor, CFP Richard Victor, CFP® is the lead educator for Financial Interactions, LLC and author of The Ultimate Guide to Online Investing: A Stockbroker Tells Everything You Need to Know as well as investor education programs designed around finding and using the best websites for investing.

Richard's career began as a stockbroker with Charles Schwab & Co. in 1993, just before the online investing phenomenon took off. To meet the education needs of people new to online investing, Richard developed and taught a workshop at Scottsdale Community College, which became the subject of his first book, based on his experience with thousands of clients.

Richard began conducting 401(k) enrollment meetings as a contract trainer on behalf of several plan administrators, traveling around the country to facilitate financial education programs at the workplace, meeting with employees of client companies. After representing five different plan administrators, Richard became keenly aware that the education they provide was little more than an introduction, designed primarily to convince employees to participate the the retirement plan. What was missing was the in-depth knowledge needed to be effective throughout one's career, knowledge that is essential for long-term success.

Richard has represented the following financial institutions:

  • Bank of America
  • Citistreet
  • Prudential
  • Retirement Educators
  • T Rowe Price
  • Total Benefits Communications
  • United Healthcare
  • Wachovia
Richard has presented for the following companies and organizations:
  • Ameripride Services, Inc.
  • Banner Health
  • DCH Auto Group
  • Fresh Start Women's Foundation
  • Glendale Public Library
  • Harrah's Entertainment
  • Horriba Instruments
  • Hunter Douglas
  • JSC Enterprises
  • Peter Kiewit & Sons, Inc.
  • Lee Hecht Harrison
  • Lifelock
  • LSI Industries
  • Maricopa County Community Colleges
  • Performance Food Group
  • Pilgrim's Pride
  • Pima County Employees
  • Saddle Creek Corp.
  • Severn Trent Services
  • Sun Health
  • Tempe Public Library
  • Valley of the Sun YMCAs
  • Victory Packaging
Richard has a B.A. in English from Arizona State University, and earned his Certified Financial Planner designation in July, 2000.

Contact Richard by phone at 480-332-7562
or email richard@401kseminar.com

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