April 25, 2012 (PLANSPONSOR.com) - Wells Fargo made enhancements to the website for 401(k) participants in the employer-sponsored retirement plans it administers.
A customizable dashboard puts a participant’s most important retirement information all in one place. Using a series of questions that assess a participant’s confidence in retirement planning, appetite for advice and risk tolerance, the site is now able to determine what content might be most relevant to the individual—and the participants can take the customization even further, selecting additional components to include in what is called their Retirement Dashboard.
The dashboard will grow “smarter” over time, providing more personalized content and tools.
The site features a prominent display of the “on/off -track” analysis that tells people whether they are on track to replace 80% of their pre-retirement income in retirement, and offers next best steps for making improvements if they are not on track. “Our research tells us that people are not prepared, nor are they optimistic about retirement, and while the goal of a secure retirement may be universal, the road to getting there is not,” said Laurie Nordquist, director of Wells Fargo Institutional Retirement and Trust. “Participants need information that is personalized, relevant and actionable to their own situation. They need to receive that information in the way that is most effective for them and that is exactly what we’re doing with this web site.”