According to the Aliso Viejo, California-based firm, SmartPlan401 prompts greater participation in company-sponsored investment plans, such as 401(k)s, and increased investment by each plan participant.
“We are very excited at the results so far. New hires informed of the availability of SmartPlan 401 are flocking to it, and our analytics show they are really engaging with it. They are watching short video presentations about their plan, taking a risk profile questionnaire, and even choosing their plan investments and contributions,” said Dona Helle, Manager, Retirement Plan Administration, Harrah’s Entertainment, Inc., in the announcement.
“Most employees don’t know how-or why-to invest in a 401(k). And they don’t read the materials designed to explain it. Now companies can provide the critical 401(k) investment information employees need, in a format they will actually use, with SmartPlan 401,” commented vWise President Tony Mingo.
Designed to help average investors better understand their 401(k) plans, SmartPlan 401 provides the benefits of a personal financial professional, without the expense, according to a press release. vWise says that by combining a video-based presentation of detailed financial information with an interactive application that prompts users to make informed investment decisions, SmartPlan401 can help plan sponsors
- Increase plan enrollment
- Raise participant contribution levels
- Migrate participants out of “default” funds
- Reduce customer support costs
- Improve customer loyalty and web site “stickiness”
vWise is a developer of rich-media internet applications based upon its E3 (that’s E-Cubed) architecture. For more information, contact:
Vice President, Operations/COO