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

GLP-1 users are trading retirement savings for their prescriptions
GLP-1 users are trading retirement savings for their prescriptions

A Nationwide survey finds 47% of GLP-1 users have never discussed the drugs’ financial impact with an advisor, even as many dip into savings.

Inspired Healthcare sale price of properties is 59% of $1.2 billion sold by advisors
Inspired Healthcare sale price of properties is 59% of $1.2 billion sold by advisors

The hundreds of millions of dollars from a sale of Inspired Healthcare properties does not mean an immediate windfall for investors.

Class action alleges Webull misled investors about China operations
Class action alleges Webull misled investors about China operations

Its SEC filings said one thing - a congressional probe said another.

Investors accuse Netcapital of inflating revenue through sham deals
Investors accuse Netcapital of inflating revenue through sham deals

Sham agreements allegedly padded revenue by 345%.

Pre-retirees are looking for flexibility, security, and guidance when it comes to retirement income: Cerulli
Pre-retirees are looking for flexibility, security, and guidance when it comes to retirement income: Cerulli

"Most pre-retirees are uncomfortable making key retirement income decisions without an advisor's help," said Chris Bailey of Cerulli.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor