SAN FRANCISCO, October 1, 2013 — Leading ERISA retirement consulting firm Blue Prairie Group is now using iPads to educate employees and measurably improve retirement readiness with the Retiremap program from Boulevard R. The new Retiremap Plan For Your Future iPad workshops offer an independent, employer-centric solution to engage employees, while helping plan advisors reach more employees in less time. A short video overview is available here:
“We successfully implemented the Retiremap employee education software with several of our clients and each implementation has worked as intended. The meetings have been well attended and employees love to receive a customized statement describing their overall retirement readiness and how they can improve it,” said Matt Gnabasik, Managing Director at Blue Prairie Group. “With each implementation, we provided one-on-one consultations for those employees who are interested. The upshot is that we’re seeing higher employee engagement scores as measured by increased participation and savings rates.”
“Top ERISA-focused advisory firms like Blue Prairie Group, realize the need to innovate on their education and advice model to do a better job of engaging more employees to help make sure they are on track for a secure retirement,” said Matt Iverson, Founder at Boulevard R. “The industry recognition, with the Pensions & Investments Innovator Award nomination of the first employer to offer our Plan for Your Future iPad workshop, shows that we’re on the right track.”
The Retiremap program was developed with leading behavioral economist and NY Times bestselling author, Dan Ariely from Duke University. The 30-minute Plan for Your Future workshops provide up to 30 employees at a time with an iPad, allowing them to do a holistic retirement readiness assessment and get a personalized Starter Roadmap. For employees who cannot participate in the iPad workshops, account activation links are emailed out and they can also access the platform through a custom employer website.
RETIREMAP’S KEY BENEFITS
The Retiremap program empowers employers and advisors to:
- Offer a much more engaging and relevant plan education program
- Use behavioral economics research from one of the top behavioral economists in the world to drive positive behavior change
- Save time and increase impact by providing advisors access to employees’ data to use in private, one-on-one meetings
- Take a holistic financial planning approach by looking at the household situation
- Identify financial stressors and deliver custom, actionable content to help reduce employees’ stress
- Measure the impact of our plan education efforts, adding accountability into plan education efforts
- Provide employees an independent solution that is neither conflicted nor pushes any specific investment product.
“With the arrival of iPads and tablets, the future of plan education has arrived,” said Iverson. “Independent platforms, like Retiremap, deliver an employer-branded solution that reaches more employees in less time, while offering a fun, engaging experience. The statistics speak for themselves.”
KEY RETIREMAP STATISTICS
- 95.2% of employees who start the Retiremap goal-setting process, complete it and get a Starter Roadmap
- 55.7% of all employees are engaged in the first 30 days through iWorkshops and email campaigns
- 58.2% of iWorkshop attendees requested to speak with an advisor
- 53.2% of iWorkshop attendees decided to increase their deferral rate by an average of 6.3% of pay
Retiremap (RetiremapHQ.com) is the leading independent retirement plan education platform from Boulevard R, using today’s technology to measurably improve participant outcomes. Retiremap’s Plan For Your FutureiPad workshops and online campaigns engage more employees, while helping employers and plan advisors drive the retirement plan concept in fresh new ways. By measuring and documenting the impact of plan education efforts, Retiremap introduces accountability, while simultaneously reducing fiduciary liability.
About Blue Prairie Group
Blue Prairie Group (BluePrairieGroup.com) is a fee-only investment consulting firm headquartered in Chicago, providing unbiased and objective financial consulting within three main practice areas: ERISA Retirement, Foundations & Endowments and Wealth Management. Blue Prairie Group acts as fiduciaries to all of its clients’ portfolios and is remunerated solely by clients. Blue Prairie Group passionately advocates low cost investments, full fee transparency, and offers a broad service suite for both institutions and individuals. Like any good neighbor, Blue Prairie Group contributes to the community, by giving 5% of pre-tax profit to local charitable organizations.