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

Judge OKs more than $90 million in settlement money for GWG investors
Judge OKs more than $90 million in settlement money for GWG investors

Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.

Fintech bytes: Orion and eMoney add new planning, investment tools for RIAs
Fintech bytes: Orion and eMoney add new planning, investment tools for RIAs

Orion adds new model portfolios and SMAs under expanded JPMorgan tie-up, while eMoney boosts its planning software capabilities.

Retirement uncertainty cuts across generations: Transamerica
Retirement uncertainty cuts across generations: Transamerica

National survey of workers exposes widespread retirement planning challenges for Gen Z, Millennials, Gen X, and Boomers.

Does a merger or acquisition make sense for your firm? Why now is the perfect time to secure your firm’s future
Does a merger or acquisition make sense for your firm? Why now is the perfect time to secure your firm’s future

While the choice for advisors to "die at their desks" might been wise once upon a time, higher acquisition multiples and innovations in deal structures have created more immediate M&A opportunities.

Raymond James continues recruitment run with UBS, Morgan Stanley teams
Raymond James continues recruitment run with UBS, Morgan Stanley teams

A father-son pair has joined the firm's independent arm in Utah, while a quartet of planning advisors strengthen its employee channel in Louisiana.

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.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave