According to a news release, participants in Strong plans get access to online, phone consultation, and face-to-face interaction during onsite education.
The Strong GuidedChoice offering features advice based on participants’ specific situation; access to experienced, professional advisors; and a “one-click” feature to choose investments in their plan, then rebalance them quarterly on an ongoing basis. The announcement said the advice service would be an additional option that plan sponsors may offer.
Strong said it piloted the GuidedChoice product with client Data Transmission Network (DTN) of Omaha, Nebraska.
Of the DTN employees who went through the advice model, 29% enrolled in the advice solution with 67% increasing their deferral or contribution rate an average of 83%.
Guided Choice was in the news about six weeks ago with word that Schwab Retirement Plan Services is offering free advice to participants through an arrangement with Guided Choice (See Schwab Offers Participants Free Advice ).
Additional information is available at www.GuidedChoice.com .