ASC Trust launches study on financial well-being in Guam and Micronesia

By Pacific Island Times News Staff

ASC Trust today launched a survey aimed at examining the financial well-being across Guam and the Micronesian region.  

Mel Mendiola, director of Investor Education and Guidance at BG Investment Services, an ASC Trust company, said the project will fill a critical information gap that exists in Guam and the rest of Micronesia, which are often excluded from national studies in this area.

“There is a growing body of research that links different non-financial variables such as physical health with financial wellbeing and we as professionals need to do more to understand these linkages," she added.

A key advisor to the project is Sonya Lutter, director of Financial Health and Wellness in the School of Financial Planning at Texas Tech University.

Lutter leads national efforts in financial psychology, therapy, and behavior. She has numerous publications credited to her in academic journals, including the Journal of Financial Counseling and Planning, Financial Planning Review, and Marriage and Family Review.

“Research like this enables us to identify which aspects of daily life have the strongest relationship with long-term financial security,” Lutter said. “It's about seeing the whole person, not just their account balance.” 

The survey, distributed via email to ASC Trust clients, consists of 20 questions and takes approximately 15 minutes to complete. All responses are confidential, anonymized, and used exclusively for research purposes. It will also be accessible through the ASC Trust website.

The survey includes questions related to one's financial status, physical and mental health, social comfort and satisfaction, among others.

"This survey has the potential to inform policy development, community programming, as well as make a meaningful academic contribution to the body of research on Pacific Islanders," Mendiola said.

Participation is entirely voluntary and will not affect ASC Trust services, subscriptions, or communication preferences.

All survey respondents will be automatically entered into a weekly raffle for prizes including fuel, restaurant, coffee certificates and other items as a "thank you" for participating.  

“Over the decades, ASC Trust has worked with thousands of employees in areas of retirement saving and investing, and the next evolution of financial planning involves a more holistic approach,” Mendiola said.

 The survey will run for approximately 30 days or until mid-August.

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