Defined contribution participants are becoming more demanding when it comes to the “customer experience,” and their 401(k) plans are no exception.
That's according to a research paper from Broadridge, which said that a “revolution” is underway in the retirement industry as new tools and technologies provide not just new ways for providers to interact with participants, but higher standards on the part of those participants who have become used to customized interactions and multichannel methods of communication.
The focus on “customer experience,” coming as it does along with digital marketing's rise, has resulted in a similar approach by retirement plan providers: the “participant experience.”
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