Text on screen: Q – How do you see personalization shaping the future of in-plan retirement investing?
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Text on screen: Julie Doran Stewart, Head of Fiduciary Advisory Services, Sentinel Group
Stewart: My name is Julie Doran Stewart. I lead the fiduciary advisory services team for Sentinel Group. Historically investments have been sort of one size fits all.
And you know, with a move towards traditional target date funds looking at a one factor solution that being age we believe that there's more opportunity for positive outcomes for retirement plan participants if we further customize solutions.
Text on screen: TITLE – A more precise QDIA that evolves as participant inputs change; SUBTITLE – Combining the elegant simplicity of a target date fund with the power of personalization; Slide comparing two retirement investment approaches: a single “one-size-fits-all” target date fund using average inputs versus a personalized, dynamic strategy using individual data, illustrated by line charts showing different equity allocation paths over time.
If we think about traditional target date funds, we're using one factor to determine ultimately an asset allocation profile for a participant, when in fact there can be multiple variables that are going to more significantly impact that participant's particular scenario.
So the essence of a personalized target date solution really seeks to take, you know, a number of factors that are specific to that person and create an asset allocation intended to mirror their life circumstances.
Relative to managed accounts, personalized target dates are oftentimes a better solution because of the engagement factor.
Text on screen: Q – What are some of the advantages of personalized target date solution as compared with managed account offerings
Managed accounts used as the default solution in a plan, they require some level of engagement to truly personalized to the participant and get the maximum amount of value and drive a positive outcome.
Whereas with a personalized target date fund, you're taking that element out of the equation by using data that's readily available at the record keeper.
Text on screen: TITLE – Low Lift for Plan Sponsors; Slide showing a simple icon labeled “Plan Sponsor Effort,” indicating that implementing personalized target-date funds requires minimal additional effort for plan sponsors.
So from a plan sponsor perspective, there's actually very little implementation required.
Text on screen: Q – How does technology help recordkeepers support better participant outcomes?
The most important thing to be mindful of is there does need to be some sort of a middleware provider who is essentially taking the data from the record keeping system and marrying that to the investment solution that is creating the underlying asset allocation. Because it doesn't require direct engagement from the retirement plan participant, it is a lighter lift oftentimes for the retirement plan sponsor.
Text on screen: For more insights and information visit pimco.com/retirement
Text on screen: PIMCO
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