The Corporate Insight Blog tracks the latest digital trends, news, and insights across financial services with a focus on the digital and mobile user experience.
A recently published white paper from Dream Forward Solutions, a retirement plan provider specializing in AI, asserts that the average American lacks the necessary knowledge to engage with their retirement plan effectively. In three parts, the firm breaks down data it gathered from its proprietary chatbot, considers how to address the obstacles to saving more […]
In Corporate Insight’s recent Retirement Plan Monitor Report regarding participant phone app home screens and plan dashboards, we determined best practices that emerge for three main aspects of the user experience: approach (i.e., comprehensive vs. multi-screen landing pages), plan data and resources. Home Screen Approach Best Practices Most recordkeepers take a multi-screen approach: Include […]
Throughout 2018, Retirement Plan Monitor – Institutional coverage set firms improved site features and unveiled new capabilities and resources. Three prominent trends embody most of the changes that recordkeepers made to sponsor sites: the modernization of user interfaces, an increased focus on mobile capabilities and the continued development of plan health resources. In addition, multiple […]
Employers and benefit providers face increasing pressure to give employees the tools and resources to get their financial lives on track. However, despite recent interest and effort from industry leaders, data reveals that employers generally have a long way to go to ensure their employees’ financial wellness, especially women. Corporate Insight’s newest study—A Roadmap of […]
Retirement has historically hinged on a variety of income sources, including personal savings, Social Security benefits and defined benefit pension plans. All of these have become less reliable since the Great Recession in 2008, with debt and cost of living inhibiting saving, private-sector pension plans nearing extinction and the future of Social Security looking uncertain. […]
Financial wellness has emerged as perhaps the most important trend impacting the retirement plan industry today. There is a growing consensus that employees’ personal finances not only impact individual workers and their families but also their employers and the nation as a whole. In this climate, employers and benefits providers are increasingly expected to help […]
Last month, private equity firm Warburg Pincus infused virtual RIA Facet Wealth with $33 million in Series A funding. The Baltimore-based startup, founded in 2016, differentiates itself in a commoditized digital advice marketplace with an unconventional client acquisition strategy, fee-for-service pricing structure and call-center-based advice delivery model. None of these strategies are unique in a […]
Since Corporate Insight last reviewed retirement income projection tools in November 2016, firms consistently introduced new, high-quality planners and enhanced existing ones. AXA introduced its first income projection tool in February of this year. Another four firms—Charles Schwab, Empower Retirement, MassMutual and Vanguard—completely overhauled their retirement income projection tools. Each of the five firms’ new […]
In reviewing online documentation capabilities for Corporate Insight’s latest Retirement Plan Monitor Report, a selection of best practices stands out in three areas: findability, document suites and delivery preference management. Findability Best Practices Centralize documents in a findable location: Integrate delivery preference management within document suite – Firms should let users modify their delivery preferences […]
VALIC’s new plan sponsor site represents a significant step forward and it is now among the more modern sites within the Retirement Plan Monitor – Institutional coverage group.The new site, called SponsorFIT and part of VALIC.com, is designed for plan sponsors and closely resembles its participant site counterpart. “FIT” stands for “Futures. Individually Tailored.” and […]