Retirement Plan technology has a long way to go. This is the case for the majority of legacy recordkeepers and providers. This is painfully obvious when compared to the new entrants into the market. Technology, and even systems updates, are not occurring with the speed and at the magnitude some plan sponsors would prefer.
Dani Fava, Head of Product Innovation for Envestnet Financial Services recently discussed the state-of-technology and coming technological innovations with Fred Barstein, Contributing Editor of WealthManagement.com. (Click here to view the video.)
It should come as no surprise that financial services clients are interested in service offerings which make their lives better. This includes such topics as Personalization, Speed and Efficiencies.
People seem willing to share data when they feel comfortable that they receive value in return. Offers made today should be customized & should meet current or anticipated needs.
It is recognized by many within the financial services industry, advisors are starting to compete with ChatGpt, Tik Tok etc. This is an important video for the advisor or plan sponsor who wants to remain at the forefront of technology for their clients and plan participants.
