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Recordkeepers Focused on Improving Participant Financial Wellness

By Rebecca Moore editors@strategic-i.com | March 13, 2017
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Coverage group firms’ participant websites generally provide easy access to financial wellness educational content. Twelve firms (75%) employ an education center that centrally houses the majority of available content, a best practice that expedites navigation to specific resources. Of the 12 firms that provide an education center, seven (58%) offer access to it from a dedicated main menu tab and four (33%) from a subtab or flyout menu link. Many of these firms also implement a variety of additional features that further enhance what Corporate Insight calls the findability of specific content, such as organizing resources by topic (92%), allowing users to filter materials by topic (42%) or medium (25%), and organizing content by reader acumen level (17%).

Firms also employ a number of features to enhance the findability of resources beyond housing them in a centralized education center. Approximately 88% provide homepage quick links to educational content, and 62% offer links to related content on various participant site pages, such as transactional screens and account data pages. Firms also provide links on educational resources that lead users to related educational content (75%), tools or calculators (62%) or transactions and/or account data pages (13%).

In addition to ensuring participants can locate the financial wellness content on the participant site, multiple leading recordkeepers go one step further to promote select content. Six firms (38%) highlight featured content on the participant site through dedicated sections on the homepage or within the centralized education center.

A synopsis of the report may be found here.