Account balances taken to next level

Retirement account holders at the Principal Financial Group Inc. can now receive weekly text messages outlining their 401(k) balances.
AUG 23, 2009
Retirement account holders at the Principal Financial Group Inc. can now receive weekly text messages outlining their 401(k) balances. The company also has implemented an application so that participants who use iGoogle as their home page can check their 401(k) balances throughout the day when they are on the home page. So far, both programs are exceeding the company's expectations. The Des Moines, Iowa-based company had hoped to have 400 participants sign up for each service. A month after the launch, 782 people have added the application to their iGoogle home pages, and 1,470 have signed up to receive weekly e-mail or text messages that detail their account balances. Active participants like these features because they don't have to go to the company's website to learn their account balances, said Danelle Kronmiller, assistant director of marketing for Principal. For now, the company is monitoring the pilot program for the next six months, and company executives are evaluating whether they want to expand it to include additional types of technology.

Latest News

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.