The largest source of stress for Americans is money, and financial stress costs employers $250 billion in productivity annually. 56% of Americans have less than $10,000 saved for retirement, and employees leave $24 billion in free 401(k) match money on the table yearly.
Parable helps your employees improve their financial health by allocating their money between their checking, savings, retirement, and investment accounts. We help them connect their existing accounts, open up accounts they should have (e.g. IRA, HSA, or high yield savings), and move money between all the accounts to maximize retirement income. They can also chat with us directly in the Parable app to get answers to their financial questions. If their questions are complex, we will also connect them with a personal financial advisor.
Employees stress about money, resulting in decreased productivity and focus at work.
Employers need to offer useful benefits that don't break the bank.
Parable helps employees optimize for long-term financial health with its algorithmic projections for retirement income.
Parable gives employers a competitive, cost-effective benefit that employees love. It also provides aggregated insights into your workforce's financial health and their most relevant financial concerns.
Parable is solely incentivized to improve employees' financial health. Unlike our competitors, we don't charge an assets-under-management fee, we don't receive referral incentives to funnel users into specific accounts, and we have zero allegiance to any one fund or institution. Parable adapts to each user's true needs to comes up with optimal recommendations.
We believe the 401(k) is core to a good financial future. However, it alone does not constitute holistic financial health. Your employees should have savings, checkings, HSAs, IRAs, and other investment accounts like roboadvisors in addition to their 401(k). Parable makes sure that employees have these accounts and that they are putting their money in the right ones.
I am a founder with the goal of helping all people to better save and invest for their financial future. I believe that with the right nudge (and a little help from software) we can help people do the right thing and make money a bit less stressful.
I am an ex-Facebook and Dropbox product manager, a Yale University graduate, and a proud Ohioan by origins.
I’ve had countless experiences that have shown me when we merge financial education with action, people make the right choice for their future. I want to create a product where those two things are fused without question.
I am an ex-Facebook software engineer and the ex-CTO of DollarsEd, a University of Pennsylvania (Wharton Engineering) and Jerome Fisher Management & Technology Program graduate, and a son of Philadelphia.