November 2017 – A Home for Retirement: Analyzing Participant Site Homepages and Account Dashboards

The homepage and account dashboards are the first places where plan participants form impressions of their recordkeepers, and usage statistics show a significant percentage of participants do not advance beyond these screens when accessing their account information digitally. As such, it is essential for firms to provide well-balanced, attractive homepages and account dashboards that incorporate a variety of account data, retirement readiness analysis, resources and links to key site functionality. Due to varying business models, certain firms leverage the participant site homepage as the account dashboard, while others maintain separate pages, with the homepage providing a summary of all accounts held, and the dashboard containing data specific to a selected retirement plan. This report analyzes the participant site homepages and account dashboards offered by the Retirement Plan Monitor coverage firms.

The retirement industry continues to seek ways to further engage participants with the retirement planning process in order to drive better outcomes. In recent years, this has resulted in two key trends: the evolution of retirement readiness analysis and a rise in personalized communication strategies. Many RPM firms have made changes to their sites that embody these trends. Currently, 45% of firms provide a homepage and account dashboard that segment portfolio-related and account-related information, respectively, allowing the homepage to immediately present and emphasize retirement readiness analysis. This analysis continues to be more prevalent and intuitive; today, 85% of firms provide homepage income projections and 50% a full income projection tool. The increased personalization of homepages comes in various forms: many firms have integrated first-person language, 40% feature personalized selections of educational content and 55% use personalized messages with portfolio recommendations. One of the most basic ways to drive engagement is to provide a positive user experience, and overall, firms provide well-organized homepages and dashboards with organizational features and data visualizations that maximize screen space and make content digestible.