SaverLife Launches App for Skilled Trades Workers

On Tuesday, SaverLife introduced a tailored version of its financial wellness app aimed at supporting individuals in skilled trades, created in collaboration with BlackRock. This initiative is backed by The BlackRock Foundation as part of its Future Builders program, which focuses on workforce development.

The SaverLife x BlackRock Future Builders app is designed to provide specialized tools for thousands of trades apprentices, helping them manage debt, improve credit scores, and increase savings. It addresses the specific financial needs of those in skilled trades and is now accessible to over 75,000 workers through the electrical training ALLIANCE, a partnership between the International Brotherhood of Electrical Workers and the National Electrical Contractors Association.

As part of this partnership, union apprentices taking part in BlackRock Future Builders programs can earn cash incentives while they advance in their training and develop sound financial practices.

Leigh Phillips, CEO of SaverLife, stated, “As technology reshapes our economy, we have a chance to rethink how we prepare people for future jobs and help them build lasting financial security through these careers. We’re excited to partner with BlackRock Future Builders to integrate personalized financial guidance into the workforce development experience, offering IBEW-NECA apprentices timely advice and useful tools that encourage savings and financial confidence from the beginning.”

The SaverLife platform combines insights from financial health, behavioral science, and artificial intelligence to provide working Americans with timely financial support. Currently, the free app assists over 800,000 Americans, most of whom report saving more than they had prior to joining.

According to research from BlackRock’s Read on Retirement initiative, many skilled trades workers feel they should be saving more for retirement, indicating a demand for resources to aid them in saving and preparing for long-term financial stability.

John Kelly, BlackRock’s global head of corporate affairs, mentioned, “The skilled trades create opportunities for family-supporting careers and greater economic advancement for millions of Americans. At BlackRock, we believe that these opportunities should lead to long-term financial security. By providing innovative financial tools directly within the apprenticeship experience, we can assist workers in achieving financial success from their very first paycheck and throughout their careers.”