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New Web-based Technology Improves Retirement Readiness

iJoin combines cutting-edge mobile technology and behavioral finance strategies in an engaging, inte ...

MINNEAPOLIS--(BUSINESS WIRE)-- Wealth Enhancement Group, is pleased to announce that Joe Brummel, Director of Retirement Plan Consulting, along with industry leaders, today unveiled iJoinTM, a web-based software delivered through mobile technology that helps Americans prepare for retirement. iJoin addresses a critical need in the market for engaging, interactive retirement-planning solutions that educate and, more importantly, change behavior.

iJoin combines cutting-edge mobile technology and behavioral finance strategies in an engaging, interactive decision-making process for retirement plan participants. (Photo: iJoin)

“Fully 70 percent of American workers say they are not where they need to be with their retirement savings, according to the Employee Benefit Research Institute’s 2011 Retirement Confidence Survey. These types of statistics are staggering and call for solutions,” said Joe Brummel, AIF®. “When we set out to develop a solution to this growing problem, we knew we had to apply behavioral finance to technology.”

iJoin leads users through an interactive decision-making process to determine:

  • How much they must save for retirement in order to replace their monthly income.
  • Whether they are on track to achieve their monthly income goal, and what they can do to achieve the desired goal.
  • What investments may be suitable for their situation.

In an iJoin pilot program in which nearly 500 workers across a variety of industries participated:

  • 95 percent chose to participate in their company’s retirement plan, compared to the industry average of 69.7 percent.
  • 71 percent selected a higher contribution percentage than what they were currently deferring to their plan.
  • Workers increased their savings or deferral rate, resulting in a 9.1 percent average deferral rate, compared to industry average of 5.3 percent.

Experience iJoin for yourself by visiting www.ijoinsolutions.com for a video tutorial.

Joe Brummel is a 16-year industry leader in the retirement planning community. Brummel has earned the Accredited Investment Fiduciary® (AIF®) professional designation from Fiduciary 360, which trains and certifies advisors in investment fiduciary responsibility. He is also a Founding Lecturer of The Retirement Advisor University™ (TRAU™) at UCLA Anderson School of Management Executive Education.

For more information about Joe Brummel and Wealth Enhancement Group on the services they provide, visit www.wealthenhancement.com/RPC.

Securities are offered through LPL Financial, Member FINRA/SIPC.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50429484&lang=en

LaBreche for Wealth Enhancement Group
Heather Morrison, 612-392-7611
hmorrison@labreche.com

Source: Wealth Enhancement Group