It’s a new year, and time to look ahead at what it will bring.
In 2018, financial wellness was one of the hottest plan advisor trends, and the industry took strong steps toward creating solutions that actually power progress—not only for plan participants and sponsors, but for advisors and for firms.
While last year we spent time defining financial wellness, 2019 brings a clearer picture and deeper understanding of the topic.
Most advisors now understand that financial wellness is not a simple plan add-on or a check-the-box solution.
Instead, having a comprehensive, integrated, technology-backed wellness program offering is a plan defender, a business winner, a growth opportunity, and a revenue generator.
As we finish out this year and head into 2019, here’s a look at what retirement plan advisors can expect to see this year:
- Advisors Finally Evolve Their Tech
Last year we predicted that plan participants will continue to want a modern, simple user experience that gives them both a comprehensive view of their financial situation and a guided, personalized path to reach their goals.
While advisors and firms were hesitant last year to invest in technology to power those experiences, in 2019 they can’t afford to wait.
According to a recent Forrester study, customer experience metrics at wealth management firms have remained flat for the third year in a row — but a fourth is not in the cards. People won’t accept below-average tech anymore.