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.
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 […]
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 […]
To judge overdraft fees holistically for each firm in the Bank Monitor coverage group, Corporate Insight’s November Report imagined a nightmare scenario—in which an account holder incurred the daily maximum number of overdraft fees, as well as an overdraft protection transfer fee and the minimum extended overdraft fee—then calculated the total fees each firm would […]
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. […]
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 […]
It’s official: Acorns entered the $28.21 trillion retirement market with Acorns Later, which offers Roth, traditional and SEP IRA accounts under the Acorns investing model. The much-anticipated launch, which came at the end of April, follows Acorn’s acquisition of Portland-based retirement fintech firm Vault in November 2017. Acorns Later follows the formula of a standard […]
Recently, firms in diverse sectors have begun expanding product offerings to feature accounts specifically for people with disabilities. In 2014, Congress signed the Achieving a Better Life Experience Act, or ABLE Act, which gives individuals with disabilities access to tax-free savings accounts. In the early half of this year, both Fifth Third Bank and Fidelity […]