Financial Advisors

The Federal government is the nation’s largest employer and it offers its employees unique benefits. Those employees deserve to work with caring financial advisors who can coordinate their benefits and manage their financial goals. Few advisors have access to the tools and support to properly assist Federal employees, but we can help.

Why Work with Federal Employees?

Financial advisors and their firms interested in expanding into a rewarding niche market should know that the Federal government employs almost 2.7 million full-time, permanent civilian workers. In addition to all workers having access to the same employee benefits programs, the Office of Personnel Management’s 2014 Common Characteristics of the Federal Government report says that:

  • 85% of all Federal employees work outside of the Washington, D.C., area. The 10 states with the highest number of Federal employees are California, Virginia, Texas, Maryland, Florida, Georgia, Pennsylvania, New York, Washington, and Ohio.
  • Federal employees are paid competitively and have many types of jobs, including attorneys, physicians and law enforcement officers.
  • The Federal workforce is highly educated. More than 62% of Federal workers have associate’s, bachelor’s or post-graduate degrees, compared to 54% in the private sector.
  • The Federal workforce is diverse. Men comprise 56.5% of all Federal employees. Minorities constitute 33.4% of the workforce, with the largest members of this group being African-American (17.9%) and Hispanic (7.2%).
  • The Federal workforce is aging. Nearly 39% of Federal workers are 50 years of age or older (contrasted to about 24% in the private sector). The average Federal employee is 47 years old with 16.3 years of service, according to the Office of Personnel Management (OPM), which projects that one out of every three Federal employees will be ready to retire by 2018.

How Can You Help Federal Employees?

Although Federal employees have a unique benefits package, they need assistance similar to that of employees in the private sector. Financial advisors can assist by:

  • Maximizing pension income during retirement by choosing appropriate payout strategies for employees and suitable benefits options for their survivors.
  • Providing information on suitable distribution options from employees’ Thrift Savings
  • Plan (TSP) and Voluntary Contribution Plan (VCP).
  • Analyzing employees’ needs for life insurance coverage, both during employment and at retirement.
  • Explaining the importance of disability and long-term care coverage to potentially reduce risks for the employees and their families.

How Can You Connect with Federal Employees?

We offer programs that can assist you with adding Federal employees as clients to your business. We can help you to:

  • Understand Federal workforce employee benefit programs (CSRS, FERS, TSP, FEGLI, FEHB and more) so you will be better equipped to counsel Federal employees with their retirement, investment and risk protection needs. Our FedEd Advisor Training Program can prepare you to work more effectively with Federal employees.
  • Provide employee benefits education programs that lessen the burden on Federal agencies to train their employees on benefits. These programs can provide great value to the attendees, and offer an opportunity to demonstrate your knowledge and ability to help this group. Our FEBA Seminars Employee Benefits Seminars are designed to provide a complete package of slides, workbooks and materials to assist a Federal agency in conducting a program from start to finish.
  • Keep updated on changes to Federal employee benefits by providing Advisor Updates as new laws and regulations are enacted. We can also assist with complex cases, and even provide professional speakers to present briefings.

Want More Information?

Click on the links below to learn more:

FedEd Advisor Training Program
FEBA Seminars Employee Benefit Seminars

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