How do you know what they want if they don’t say?
In this interview conducted on the floor of the 2018 Fi360 Conference in San Diego, John Sullivan of 401k Specialist speaks with Yaqub Ahmed, Senior Vice President of Defined Contribution at Franklin Templeton Investments. The conversation centers on a session Ahmed participated in, focused on addressing the “unarticulated needs” of retirement plan participants—needs that participants themselves may not fully understand or express.
Ahmed explains that understanding and anticipating these hidden needs is a responsibility shared by financial professionals. Instead of directly questioning plan participants, success often lies in analyzing demographics, behavioral data, and leveraging technology to personalize solutions at scale.
The panel discussed the role of innovation in a risk-averse defined contribution (DC) marketplace, emphasizing how digital tools can expand reach and deliver more tailored financial strategies. Ahmed highlights the increasing expectation across all age groups—particularly among Millennials—for technology-driven engagement and personalization in retirement planning.
Key themes from his recent blogs were also touched on:
- Fee compression: A trend affecting every aspect of the financial services industry, pushing providers to find more cost-effective investment vehicles like collective investment trusts.
- Demographic shifts: With over 60% of DC assets held by participants aged 50+, there’s a growing need to adapt retirement strategies for aging, more engaged investors.
Overall, the discussion underscores the evolving landscape of retirement planning, where data, tech, and changing demographics intersect to redefine how firms meet participant needs.