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Shelton Financial Company helps new advisors deal with their debt

Barnum Financial Group helps young financial advisors settle their student loan debt.

The Shelton-based company recently announced a partnership with online personal finance company SoFi to develop a debt relief program for its employees early in their careers.

“Student loan debt has become a national issue, and we want to ease the burden and worries that many young counselors have after graduation as they begin to build a practice, which takes time” , said Paul Blanco, CEO of Barnum Financial in a press release.

The company’s program will make 12 payments per year between $100 and $200 per new 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 to accelerate the term and get beneficiaries out of debt faster.

The program will be managed through SoFi’s “SoFi at Work” program, which helps participating companies provide a combination of employee benefits, such as student loan contributions and refinancing.

“We are thrilled to offer this student loan contribution benefits program to Barnum Financial Group, our premier partner in the financial advisor community,” said Jennifer Nuckles, Head of Partnerships and Content at SoFi. “Forward-thinking companies like Barnum Financial Group are helping their advisors deal with the stress of student debt and providing the tools to boost the overall financial well-being of their employees. »

Barnum Financial Group provides workplace financial education to hundreds of businesses and nonprofits in New England, New Jersey and New York.

The company recently launched its newest financial literacy center, The Establishment Barnumat 100 Commerce Drive as a new approach to educating millennials on budgeting, debt management and more.

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