If you’re looking for an interactive retirement planning solution that’s transactional and actually works (who isn’t?) vWise has it.
“We’ve been recognized as a participant experience thought-leader and innovator for over 12 years,” said Tony Mingo, the Southern California-based fintech company’s founder and CEO. “We are all about the experience and making sure it’s a win-win (win) for the participant, provider and plan sponsor.”
So how is it specifically done?
Using professional actors and filming at Disney-level like studios just up the road from its idyllic Orange County offices, vWise produces financial wellness and education videos that are an HR rep’s dream.
While the videos themselves are nothing new, Mingo and his team inject the participant’s personal retirement plan information into the presentation at key points for a customized experience that makes it seem—at least—as if the actors are talking directly to them.
They’re able to illustrate the probability of reaching retirement savings goals and offer options in real time to get participants on track.
Simply put, it’s cool, and keeps participants informed, engaged and entertained by offering something completely different and cutting edge. It’s a combination of Mingo’s Silicon Valley street cred and the latest in fintech, and it works.
vWise solutions are intentionally designed to create efficiencies and optimize participant outcomes while ensuring that “we connect them in such a way that they are confident in making key plan decisions.”
Deferral rates typically average the widely-reported 3 percent for new participants, yet Mingo—a financial services industry veteran for over 20 years with experience in executive leadership —claims the vWise platform increases that rate to 8 percent, or a 140 percent increase overall.
“Existing participants that use our solutions will often increase deferrals by 88 percent to 90 percent, on average, so we’re really helping to move the needle for the people that we serve. We are a technology company that develops compelling, interactive and personalized experiences. We use research-driven engagement techniques to do that, and it’s all about building confidence so participants take action.”
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
