October 13, 2015 Fact of the Day: Using Social Media and Mobile Technology
Did you know that 25 percent of retirement plan participants access some type of personal financial information on a daily basis?
In a recent study conducted with more than 1650 retirement plan participants, Spectrem Group analyzed the online and mobile behaviors of these individuals. The largest percentage of participants (42 percent) access personal account information of some type at least weekly. Eighteen percent do so monthly, 9 percent even less frequently. Only 5 percent never access personal financial account information online.
What other financial activities do participants conduct online? Forty seven percent pay bills online each week. Sixty five percent research investments online. Eight percent would be willing to video-chat with a financial provider.
What capabilities do you have to meet the needs of plan participants?
To learn more about retirement plan participants, click here