NEW YORK (WOWO) — BlackRock is expanding its investment in the skilled trades with a new financial wellness partnership designed to help more than 75,000 electrical apprentices manage debt, build credit and increase their savings. SaverLife announced Tuesday the launch of a customized version of i ts financial wellness app developed in partnership with BlackRock Future Builders. The free platform is available to workers through the electrical training ALLIANCE, the national training partnership between the International Brotherhood of Electrical Workers and the National Electrical Contractors Association. The initiative is funded by The BlackRock Foundation through its Future Builders program, which focuses on workforce development. The partnership is intended to help apprentices establish healthier financial habits while training for careers in the electrical trades. Eligible union apprentices enrolled in BlackRock Future Builders programs can also qualify for cash incentives as they progress through their training and work toward financial goals. The app offers personalized tools intended to help users manage debt, improve credit and build savings. Its approach combines financial education with technology designed to provide guidance when workers need it, rather than relying solely on traditional financial counseling. SaverLife uses financial health expertise, behavioral science, real-time data and artificial intelligence to provide individualized support. The organization said its broader free app serves more than 800,000 Americans, with the majority of users saving more money after joining the platform. SaverLife Chief Executive Officer Leigh Phillips said the partnership was designed to integrate financial guidance into the apprenticeship experience as workers begin building their careers. “As technology reshapes our economy, we have an opportunity to rethink not only how we prepare people for the jobs of the future, but how we help them build lasting financial security through those careers,” Phillips said. She added that the collaboration would give IBEW-NECA apprentices practical financial tools and personalized guidance to help them build savings and confidence early in their working lives. BlackRock said the initiative responds to concerns about whether skilled trades workers are adequately preparing for long-term financial needs. Research from the company’s Read on Retirement initiative found that a majority of skilled trades workers believed they should be saving more for retirement. John Kelly, BlackRock’s global head of corporate affairs, said the company views financial security as an important part of the economic opportunity offered by skilled trades careers. “The skilled trades are opening doors to family-supporting careers and greater economic opportunity for millions of Americans,” Kelly said. Kelly said providing financial tools during apprenticeship training could help workers begin building long-term financial stability from their first paycheck and continue doing so throughout their careers. The partnership comes as workforce development programs seek to prepare workers for skilled occupations while helping them manage the financial challenges that can accompany the start of a career. The electrical training ALLIANCE provides the connection to eligible apprentices enrolled in participating programs. The new app is free to use, and qualifying apprentices can receive additional financial incentives for progressing through training and developing positive financial habits. The announcement did not specify the amounts available through those incentives. The post New App Helps IBEW-NECA Apprentices Manage Debt, Build Credit and Save Money appeared first on WOWO News/Talk 92.3 FM and 1190 AM. ...read more read less