OneAmerica Unveils ‘Persona-Based Approach’ to Financial Wellness

The MyTrack approach is based on a series of four demographic personas for which motivations, future goals and pain points are identified, as well as potential solutions.

OneAmerica has unveiled a new program called MyTrack, which the firm describes as a “persona-based approach” to education and financial wellness.

MyTrack connects retirement plan participants with individualized, relevant resources to guide them on the path to retirement, the firm says. The theory behind the new solution is that, by meeting participants where they are when it comes to retirement preparation, the firm can provide a plotted, customized course for each individual.

The MyTrack approach is based on a series of four demographic personas, based on proprietary OneAmerica survey data. Motivations, future goals and pain points are identified for each persona, as well as potential solutions and action steps that may be appropriate.

“Retirement concepts can be very complex if you don’t know where to start,” says Sandy McCarthy, president of retirement services for OneAmerica. “As participants navigate life events and the inevitability of changing life and financial priorities, they need individualized and relevant support. Our goal is to help each participant understand and prepare for the next step of their financial journey—through their working and pre-retirement years.”

According to McCarthy, this persona-based approach will allow plan sponsors to support their employees in a whole new way, improving both plan and individual outcomes. At the same time, financial advisory professionals will gain new insight into the ways they can serve participants in a more holistic way that goes beyond the retirement plan.

“MyTrack was designed to optimize financial wellness outcomes for participants and to help sponsors support employees’ needs on a more individual level,” says Tori Weyers, senior director of enterprise marketing. “We’re leveraging personal data points and individual decision-making parameters to truly take a ‘what’s best for the participant’ approach.”