SHELTON, Conn., Sept. 23, 2019 (GLOBE NEWSWIRE) -- Barnum Financial Group financial advisors who are just launching their careers and are weighed down with student loan debt can now receive assistance in paying those debts down through a newly introduced program, the company announced today. The plan will be operated in partnership with SoFi, the online personal finance company, through their SoFi at Work program.
“Student loan debt has become a national issue, and we want to lessen the burden and concern that many young advisors have, post-graduation, as they are starting to build a practice, which takes time,” said Paul Blanco, CEO of Barnum Financial.
The program for beginning advisors entails Barnum contributing 12 payments annually of $100 to $200 per advisor over a three-year period, or $3,600 to $7,200 in total. Contributions do not replace the normal monthly payment, but rather help accelerate the term and get the recipients out of debt quicker.
“We are pleased to offer this student loan contribution benefit program to Barnum Financial Group, our first partner in the financial advisory community,” said Jennifer Nuckles, Head of Partnerships and Content at SoFi. “Forward-thinking companies like Barnum Financial Group are helping their advisors address the stresses of student loan debt and providing the necessary tools to build their employees’ overall financial wellness.”
“The world of benefits is always evolving,” commented Michelle Hite, Vice President, Human Resources. “Our goal here is to help a group of young entrepreneurs get off to a successful start and not be unduly distracted with their own financial issues.”
About Barnum Financial
We help over a quarter million clients, nationwide create wealth and make smart money decisions through our financial planning and consulting services. At Barnum Financial Group, we provide a full range of investment and risk management products and services to individuals and their families, as well as small businesses, corporations, government entities, and not-for-profit organizations and their employees in all fifty states.
About SoFi
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than 800,000 members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. For more information, visit SoFi.com or download our iOS and Android apps.
For more information please contact: Patrick Connor, Public Relations, pconnor1@barnumfg.com
Securities and investment advisory services offered through qualified registered representatives of MML Investors Services, LLC. Member www.SIPC.org 6 Corporate Drive, Shelton, CT 06484. Tel: 203-513-6000. SoFi is not affiliated with MML Investors Services, LLC. CRN202109-253029