J.D. Power's new study on investor interaction with retirement plan digital channels finds that the majority of retirement plans do not deliver proactive guidance, and many make it hard for users to find information they are looking for on their websites and mobile apps.
The study found that just a quarter of retirement investors strongly agreed that their provider offers proactive guidance and help. Only 43% said they found it very easy to pull up the information they were seeking on their plan's websites and apps.
"Very often an individual's first experience with investing happens within an employer-sponsored plan, giving these plan providers an inside track to build a relationship and retain and grow the participant's assets long after they have separated from their current employer," Mike Foy, senior director of wealth management intelligence at J.D. Power, said in a statement.
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
