Citations

Warren Cormier, President of Boston Research Group and founder of highly regarded DCP Plan Sponsor Studies:

What is the new frontier of competition? It’s not abandoning product development altogether, but has to do with customer experience. The new frontier for competition in the industry is at the bottom of the satisfaction rating (referring to the mere 43 percent of sponsors who see their providers as industry thought leaders or innovators and the 47 percent who see their providers effectively helping participants meet their goals for retirement). The gold rush is on for whoever can prove they're most effective in helping participants reach their goals.

iJoin offers a combination of technology and human intervention that forces a participant to pay attention and do something.

Fred Reish, Managing Director and Partner of Reish Luftman Reicher & Cohen, and nationally recognized expert in employee benefits law:

What is the single most important factor in determining the adequacy of a 401(k) participant's retirement benefits? That's an easy question with an easy answer: the decision about whether or not to participate in the 401(k) plan. If an employee does not join the 401(k) plan and, therefore, does not defer, then he will have little, if any, benefits at retirement.

Shlomo Benartzi, Professor and Co-Chair of the Behavioral Decision-Making Group at UCLA, and industry thought leader, in analyzing “Heuristics and Biases in Retirement Savings Behavior”, concludes that:

Saving for retirement is a difficult problem, and most employees have little training upon which to draw in making the relevant decisions. Perhaps as a result, investors are relatively passive. They are slow to join advantageous plans; they make infrequent changes; and they adopt naïve diversification strategies. In short, they need all the help they can get.

According to BNA, the Pension Protection Act provides that “investment advice provided to a participant or beneficiary of an employer-sponsored retirement plan through a computer model that is certified by an independent eligible investment expert qualifies, as long as the only investment advice provided under the program is the advice generated by the computer model and the transaction occurs solely at the direction of the participant or beneficiary”. iJoin is designed specifically for this purpose.

iJoin is currently veing marketed to:

Directly to Financial Advisors

Advisor Firms

Defined Contribution Investment Only Firms

Recordkeeping Platforms

Defined Contribution Plan Providers

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