Retiremap 2.0 Launch Webinar

Given on 9.20.16 for preferred clients

Transcript

1. RETIREMAP The DC Industry Enters the 
 Era of Financial Wellness Retiremap 2.0 Private Launch Webinar for Preferred Clients September 20, 2016 Text Questions to 415.250.6727
2. Host Matt Iverson CEO Retiremap Guest Kristen Berman Director of Product
 Common Cents Lab @ Duke
3. RETIREMAP Changes to the DC Industry ERISA/401(k) TDFs Fiduciary Employer Relationships 1970s 1990s 2000s Today Products Services
4. RETIREMAP Fidelity Saw the 401(k) Opportunity Now dominates DC landscape with $1.4T in assets. $1T more than nearest rival* * Pensions & Investments DC Recordkeeper Special Report, 2016
5. RETIREMAP Blackrock Pioneered the TDF At #2, sole DC-IO in the top 5 DC asset managers * Pensions & Investments DC Money Managers Special Report, 2016
6. RETIREMAP Fiduciary Focus Fuels Specialist Growth Industry continues to scale, consolidate & enhance capabilities
7. RETIREMAP SageView: From $12-60B in 5 Years Alignment with fiduciary role paves way for dramatic growth
8. RETIREMAP Wirehouses In Decline RIAs grew faster than any other channel. Wirehouses grew at -1.9%* * Cerulli U.S. Intermediary Distribution 2016: Evolving Roles in Distribution
9. RETIREMAP Financial Wellness for Employer Relationships Losers Delay Action Content Solution Manual 
 Process Act Early Services Solution with IP Automate for Scale Winners
10. RETIREMAP Employers Want Financial Wellness Expanding financial well-being is the top employer initiative for 2016 * Aon Hewitt 2016 Hot Topics in Retirement and Financial Well-Being 2014 2015 2016 30% 46% 56% Employer likelihood to focus on financial wellness.
11. RETIREMAP Employers Need Help Improving Employee Financial Wellness* Healthier Financial Decisions Increase employee engagement Improve retirement statistics Maximize 
 plan design efforts Scale
 employee coaching * SSgA 6 Steps to Bring Financial Wellness to the Workplace and 
 Aon Hewitt 2016 Hot Topics in Retirement and Financial Well-Being
12. RETIREMAP Financial Wellness Can Drive Advisor Profitability Scale up impact Save time Increase margins Differentiate services Build trust 
 with clients
13. RETIREMAP Old World: Financial Education/Literacy New World: Automated, Research-Backed Program Content solution Limited advisor role Isolated 1:1 coaching One-size-fits-all approach Traditional budgeting Service solution Automated for advisor workflow Method for scalable coaching Personalized for goals Multi-channel messages Rule of Thumb budgeting IP through experts New revenue stream Financial Wellness Approaches Automated for scale
 Personalized communication
 Aligned with business lines #researchBacked
14. RETIREMAP Coaching Is The Right Model, But Doesn’t 
 Scale - Yet. Coaching works
 Add behavioral economics
 Scale smartly with technology #coachingAtScale Old World: Live One-On-One Coaching New World: Technology For Coaching At Scale Individual coaching
 based on a proven
 methodology Use of online budgeting
 tools is not sustainable Technology can systematize coaching Automated systems can increasingly handle complex decisions and recommendations Technology enables smart, personalized messaging through data and user actions If we can develop self- driving cars, we can figure out coaching
15. RETIREMAP Behavioral Economics Is the Key to Success Expert application of key 10 concepts to improve financial decision-making. Close product collaboration with Duke University’s Common Cents Lab and renowned behavioral economist, Dan Ariely. #intentionActionGap Goal-setting Confidence-inducing Accountability Pre-commitment Social proof Non-financial incentives Mental accounting Loss aversion The Default Effect Rules of Thumb/ Heuristics Key Concepts: Main drivers of behavior change Supporting Concepts: Complimentary strategies for change
16. RETIREMAP Goal-setting Frame the entire employee experience around achieving 
 their selected financial goal.
17. RETIREMAP Confidence-inducing The more confident an employee is, the more likely they are to take action. Promotes self-efficacy* and changes mindset. * An individual's belief in his or her capacity to execute behaviors necessary to produce specific performance attainments
18. RETIREMAP Accountability Match employees with their “ideal” plan advisor for idiosyncratic fit. Simulate advisor coaching through multi-channel messaging.
19. RETIREMAP We usually think that the best cure for bad financial decisions is financial literacy. Just teach people, and all will be solved. Sadly this is not the case, and even worse, the evidence is that financial literacy’s effectiveness is close to zero. What we need is a system that takes the complexity of financial decision making, breaks it into actionable components, and coaches us on taking one step at a time. This is what Retiremap is designed to do. “ ” Dan Ariely
 James B. Duke Professor of Behavioral Economics at Duke University
 NY Times Bestselling Author of Predictably Irrational 
 WSJ Columnist of Ask Ariely -
20. RETIREMAP Retiremap 2.0 Key Features Built for plan advisors
 Research-backed
 Automated for scale #behaviorBased Features based on what works in behavioral economics Personalized, automated goal-based coaching that leverages user data to send timely messages that drive action Easy-to-access, segmented employee profile data Provide custom spending Rules of Thumb Just-in-time messaging via email, SMS, online and in- app, as well as through channels such as Facebook and Twitter Fully mobile and web-based Real-time, employer level analytics and reporting An easy and automated way for employees to connect live with an advisor (optional)
21. RETIREMAP Demo
22. RETIREMAP RETIREMAP Onboarding Kick-Off Sustain Email with copy of commitment contract After advisor match, receives SMS welcome message confirming account activation SMS link to get custom Rule of Thumb Communications Automation Users segmented and placed in Smart Campaigns based on goals First virtual meeting with advisor (optional) SMS reminders for time-bound dashboard tasks Weekly SMS asks about observing custom Rule of Thumb. Includes regret lottery. Weekly “Did you know…” personal finance SMS Rule of Thumb to build confidence and stimulate curiosity. Annual checkup + new features based on data-driven insights
23. RETIREMAP financialwellness.us 275 points Open an emergency savings account Almost everyone faces unexpected expenses or income interruption at some point in their lives. Research shows that the simple act of opening a dedicated savings account has a profound positive impact on your long term financial health. Go! 50 points Get your custom Rule of Thumb Your Rule of Thumb will help you easily help you save more with the least amount of impact to your quality of life and 65 points To Do Now Completed To Dos Future To Dos Action Dashboard Earn points and achieve your goals in record time. Wellness RETIREMAP Cumulative score based on action taken. Non- monetary rewards based on pride. Every action counts towards score. Clear, actionable next steps. Employee can easily connect with advisor. Keep employees focused on their next two “To Dos.” Emphasize progress made to date to boost confidence.
24. RETIREMAP financialwellness.us 275 points Open an emergency savings account Go! 50 points Open an Emergency Savings Account Wellness RETIREMAP Step 1: Select the right type of account Alternative option Savings account connected to your main checking account Why? A high interest online savings account typically earns much more interest than your bank or credit union. Also, it’s smarter to have it not be associated with your main checking account, so that you're not tempted to borrow from it. Recommended for you High interest online savings account. Time to setup: 5 minutes Go! Each “To Do” broken down into clear actionable steps. Expert system recommends specific actions. Highlight the time commitment for each action. Explain why the recommendation was made. For Alternatives, explain why it wasn’t recommended.
25. RETIREMAP This Is Just the Start Research collaboration with Duke and bold product vision Interactive videos for greater engagement Account aggregation for effortless budgeting Leverage data for deeper personalization
26. RETIREMAP Who Will Be Selected for Retiremap 2.0? Established firms
 Big plans for financial wellness
 Behavioral economics advocates #lessThan25RetiremapPartners Size: At least 5,000 employees for financial wellness rollout Belief: Improving employee outcomes core to your job Financial wellness is a key growth strategy Program differentiation is critical Behavioral economics is necessary Culture: Collaborative: want to improve Retiremap Fun to work with
27. RETIREMAP Retiremap 2.0 Pricing Exclusive program
 Monthly subscription
 One-time admin 
 setup fee of $2,000 #nowOrNever Starter Starter Plus Growth Enterprise $2,250 
 per month $2,290 
 per month $5,000 
 per month Custom Eligible employees covered 1,500 1,500 4,000 > 10,000 Plans included (up to) 10 10 20 Custom Support Online Online, email 
 and phone Online, email 
 and phone Online, email 
 and phone Training Yes Yes Yes Yes Annual Research Report No Yes Yes Yes Reporting Basic Advanced Advanced Advanced CRM seats 2 5 15 Custom Financial wellness sales coaching No Yes Yes Yes Integration with business
 systems (i.e. Salesforce) No No No Yes Additional EEs or users 1,000 EEs in up to 5 plans for $1,500 per month Cost per eligible employee $1.50 EE/mo. $1.53 EE/mo. $1.25 EE/mo. Custom
28. RETIREMAP Get Access to Retiremap 2.0 Deadline: Friday, 9/30 at 5:00pm PT Preferential review if completed by Thursday
29. RETIREMAP Questions Text Questions to 415.250.6727
30. RETIREMAP RETIREMAP 8 Week Kick-off Months 3-12 Years 2+ Focus on actions that make progress on employees’ top goal Automated goals- based employee messages from their matched expert via email, SMS and in- app messages with CRM segmentation and marketing automation Earn points for progress on goals Program Timeline Observe and monitor custom Rule of Thumb Six month check-in: Adjust goal and/or Rule Annual checkup to assess next steps Integrate into benefits program, especially for new hires Themed campaigns (i.e. new years, taxes, back to school) Annual checkup + new features based on data-driven insights
31. Starter Starter Plus Growth Enterprise $2,250 
 per month $2,290 
 per month $5,000 
 per month Custom Eligible employees covered 1,500 1,500 4,000 > 10,000 Plans included (up to) 10 10 20 Custom Support Online Online, email 
 and phone Online, email 
 and phone Online, email 
 and phone Training Yes Yes Yes Yes Annual Research Report No Yes Yes Yes Reporting Basic Advanced Advanced Advanced CRM seats 2 5 15 Custom Financial wellness sales coaching No Yes Yes Yes Integration with business systems 
 (i.e. Salesforce) No No No Yes Additional EEs or users 1,000 EEs in up to 5 plans for $1,500 per month Cost per eligible employee $1.50 EE/mo. $1.53 EE/mo. $1.25 EE/mo. Custom