In April, three financial firms in our Life Insurance Monitor coverage group released research on how women invest and save. The studies focused on affluent Hispanic moms, women in retirement plans and investment education for teenagers. Our P&C Insurance Monitor covered a book published under the auspices of the Geico Gecko. Finally, retirement plan websites added new interactive resources.
Firms Address Financial Decision Making and Investment Education for Women of All Ages
MassMutual released findings about affluent Hispanic moms last month (in a press release and an infographic), with statistics such as “nine out of 10 affluent Hispanic moms play an active role in educating their children in finances.” The firm also published results about mothers in general, stating that of those who do not use a financial professional, only 48% prefer to manage investments and/or insurance needs on their own, so investment professionals have a large market to work with. Lincoln Financial also addressed women and finances in “The Gender Factor: How to Engage and Motivate Women in Retirement Plans,” a whitepaper that provides insight into how women think about retirement and what they do in their retirement plans. Finally, ING and Girls Inc. expanded their partnership with the addition of new ING-Girls Inc. Investment Challenge teams. The Investment Challenge provides girls between the ages of 12 and 18 the opportunity to manage real-time $50,000 investment portfolios.
Last month, Geico promoted a book “written by” its mascot, The Gecko. The book, You’re Only Human, was advertised on the public site, and is supposed to give The Gecko’s “take” on life. Also last month, Geico added new mobile voice assistance functionality, which allows clients to access various portions of the app and complete account-related activities. The new capability is available with the firm’s iPhone app. E*TRADE and USAA also offer this capability.
GEICO Marketing Campaign for the Gecko’s Book
Two firms covered in Retirement Plan Monitor added interactive tools in April. Mercer added a new microsite, Uncover the Numbers, that provides stats about the finances related to retirement. Uncover the Numbers allows users to search for stats by age or topic. Users can also click on numbered tiles to jump down the page for more information. Mercer also created a new Uncover the Numbers Twitter feed dedicated to the site. On the client-site side of things, TIAA-CREF unveiled a new asset allocation tool. The Target Investment Tool asks plan participants risk-related questions and provides a suggested asset allocation mix. The tool also provides a side-by-side comparison of clients’ current portfolios and their target allocation.
Mercer’s Uncover the Numbers Microsite