fee disclosure - communicate your values as you reveal your fees
TRANSCRIPT
Marketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan Solutions
Communicate Your Values As You Reveal Your Fees
Best Practices for a Fee Disclosure Communication Strategy
July, 26 2012
Marketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan Solutions
Employees care deeply about retirement security benefits.
The percentage focused on retirement security increased from 23% to 52% over the past 10 years.1
70% of employees who are satisfied with their benefits are satisfied with their jobs, but only 23% of those dissatisfied with their benefits are satisfied with their jobs.1
Benefits Satisfaction Job Satisfaction=
The Participant Perspective
1MetLife’s Annual Study of Employee Benefits Trends
Marketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan Solutions
Focus attention on the value given and received.
Improve dialogue through transparency.
Educate to increase your value and create advocates for your service.
Don’t Just Disclose – Educate!
Marketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan Solutions
Proactive discussion of fees should put plan costs into the context of the plan’s value proposition.
Explain benefits of plan services and features.
Explain expenses incurred to provide services and features.
Define fees collected and provide rationales.
A Practical Template for Plan Education
Marketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan Solutions
How Much Do We Remember If We …
Participate in an activity (100%)
Simulate the activity (90%)
Teach the activity (70%)
Watch demonstration (50%)
Watch video (40%)
View pictures (30%)
Hear words (20%)Read
(10%)
We learn through a combination of:
ActionVisualVerbal
Marketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan Solutions
Single destination site for plan participants.
Quarterly newsletter with
QR codes to drive
participants online.
Online newsletter
drives participants to
website.
Participants browse website
from iPad, Smartphones.
Participants can learn about
investing, and make
transactions from the same
website.
Your Plan Participant Experience Should Incorporate Multiple Mediums and Formats
Goal: blend of written and visual
materials to address multiple learning styles.
Marketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan Solutions
The Changing Customer
Across all demographics, users are accessing Web content via mobile and tablet devices.
Are you reaching your customers in the ways they want to be reached?
Track participant engagement and Return on Investment:
Marketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan Solutions
Our Solution for Disclosing Designated
Alternative Investment Fees
404(a)(5) and 404(c)
Marketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan Solutions
Plan Participant Fee Disclosure Microsite
We offer a plug-and-play microsite that meets 404(a)(5) and 404(c) requirements and provides interactive education in multiple learning formats.
• Provide timely content that educates, advises, and inspires.• Supplement with additional content (i.e., our fee expense calculator).• Comparative chart displays all DOL requirements and provides access to
FINRA-reviewed fact sheets and e-summary prospectuses.• Use as a stand-alone destination site or integrate with
your website. • Measure ROI with detailed tracking.• Compliance review prior to publishing.
Marketing Communication Tools Investor Education Retirement Plan SolutionsMarketing Communication Tools Investor Education Retirement Plan Solutions
• Best practices
• A personalized message
• Audience segmentation
• Drive action
A Complete Solution: