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What to Look for in an Online Financial Tool for Your Company 401K Clients

Posted: Oct 15, 2021 10:00:19 AM

Online Financial Tool for Company 401K Clients

In the age of digital transformation, there’s an expectation of availability that most service providers have adapted to. The recent global pandemic has accelerated established trends such as the digital transformation of financial education and investment tools. 

For 401k financial advisors, providing such apps can be valuable to assisting their corporate clients in enrollment and employee involvement. 

Online Financial Tools for 401k Investment

While there are many different online financial tools available, not all apps are equal. There are a few aspects that financial advisors should be mindful of when creating resources for  their clients. Below, we will break down the top characteristics financial advisors should look for in retirement plan online financial tools.

Easy-to-use Technology

If employees are looking for investment help and ways to track their 401K, they will benefit from investment education technology. However, not all retirement education tools and software are easy to understand and navigate. There are some great resources out there, but they may not be easy or intuitive to use. It's ideal to have an online tool with a user-friendly interface for your plan sponsor clients. This will avoid frustration from their employees and encourage them to use it.

Portfolio Management

The best retirement plan online tools will give employees access to their managed portfolios with ease.

Additionally, online apps should have a portfolio questionnaire in order to understand employees' investment preferences and risk tolerance so that they can make the right investment choices for them.

Education & Growth

Your plan sponsor clients and their employees should be able to improve their financial literacy with investment news, insights, and information. But in addition to providing resources, you want to offer a way that clients can see the direction the company is going in terms of employee sign-on. 

Some tools provide benchmarking data that adds value to the company by calculating how much progress clients are making in getting employees enrolled. This can help clients narrow down the exact issues employees are having that are preventing plan enrollment.

A retirement savings calculator is the ultimate support feature any investor online platform should have. Clients, as well as their employees, are interested in the long-term mapping of their financial future, and tools like retirement savings calculators help facilitate that journey for financial advisors.

Make the App Personal

You want to provide your clients the best service with your app that aligns with their business needs and at the same time promotes your services. Look for tools that give you a white-label option on your investor educational online platform. This will give you your own unique branding that clients will recognize, instead of the appearance of a third party.

Looking for a State-of-the-art Online Investment Tool?

GGA Retirement can help with an innovative, award-winning 401k investment education technology that ticks all the above boxes. Schedule a free demo by clicking below.  

 

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