Press Release
American Express Introduces Financial Education Program
MINNEAPOLIS, MN, July 30, 2002 -- American Express Financial Advisors Inc. today announced the launch of InMotion(SM) from American Express, a pioneering education support program that delivers financial education and alternatives to employers and employees affected by corporate change, such as mergers, acquisitions, downsizings, facility closures and retirement plan changes.
"In today's economic environment, workplace changes are inevitable," said Rusty Field, vice president of Financial Education and Planning Services. "Organizations achieve long-term benefits when their employees remain confident in their financial situations during a complex transitional time. InMotion presents corporations with financial education that focuses on helping employees meet long-term goals and safeguard their retirement savings in the midst of these corporate transitions."
InMotion provides an integrated approach to address the financial concerns of employees in corporations experiencing change. American Express develops, coordinates and implements each program while providing a single program manager to address an organization's unique needs. Multiple methods of delivery can be used, including group seminars conducted by financial advisors, Internet programs, print materials and personal consultations in person or over the phone to ensure employees have their financial questions answered. InMotion can bring education solutions to organizations with geographically diverse groups of impacted employees in virtually any location, leveraging American Express Financial Advisors resources located throughout the country.
Focus group research recently conducted by American Express found that employees view a financial education program from their employer positively, commenting that such an offering shows the employer has a higher level of care and concern for employees.
"For any organization, implementing significant change can result in fear and uncertainty as workers question how the change will affect them," said Field. "Along with the business risks involved with events like mergers or restructuring, employers also risk employee morale, productivity and their reputation with their community. InMotion's education and support services make it easier for the company to focus on the direction of their business while we provide financial direction for employees affected by the changes, which helps reduce anxiety and builds a more confident and committed workforce that ultimately can help improve the corporation's bottom line."
InMotion is a component of financial education programs from American Express Retirement Services' Financial Education & Planning Services (FEPS) unit. FEPS delivers comprehensive financial education programs to organizations ranging from small businesses to Fortune 500 corporations. FEPS provides Web, phone, print and face-to-face education, guidance and advice to more than two million employees nationwide. For more information on Financial Education & Planning Services (FEPS), visit http://www.americanexpress.com/financialeducation.
American Express Financial Advisors is one of the nation's leading financial planning companies. It is part of American Express Financial Corporation, which currently owns or manages more than $238 billion in assets as of June 30, 2001. Through a network of more than 11,300 financial advisors and its online services, the company provides comprehensive, long-term financial planning and high quality financial products to more than 2.6 million clients throughout the United States.
American Express Retirement Services, a service group of American Express Financial Advisors, is a provider of services for defined contribution and 401k plans with total combined assets of more than $31 billion and a participant base of more than 1.2 million as of December 31, 2001. For more information on American Express Retirement Services, visit http://www.americanexpress.com/sponsors.
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