Principal® Real Start: What’s in it for you
Customers expect personalized experiences, especially when it comes to making financial decisions. That’s why we've designed a streamlined digital experience that makes it simpler for participants to set up an account. You may remember when this new experience launched last fall, but now it has a name — we’re calling it Principal® Real Start because it gives participants the education they need to help them be more confident in their retirement planning decisions. And once they’re enrolled, you can see the benefit by being able to have more in-depth financial planning conversations to really highlight your expertise.
The results are in
We already know it works! Nearly 30% of all participants who go through Principal® Real Start choose to defer 10% or more. Not to mention that those who enroll through Principal® Real Start defer nearly 30% more than those who enroll through other methods.1 You can be more confident that your clients and their employees have the resources they need to help them get started on the right foot.
We’ll do the heavy lifting, so you can focus on running your practice and serving your clients. Plus, we’ll give you resources to have successful conversations, including Enroll & Educate materials, a welcome demo and you’ll even be able to walk a participant through the onboarding process by visiting principal.com/welcome. We’re focused on providing the best possible experience across the board — we’ll keep gathering feedback and enhancing the process along the way.
In fact, we’ve already gathered valuable data about how participants interact with Principal® Real Start. This information has helped us as we work to continually expand and improve the experience. Recent updates include brand new resources such as Investment Help and Rollover Live Chat.
Investment Help offers a text-like experience that approaches investment education conversations in a way similar to My Virtual Coach. The friendly tone of the conversation helps participants choose the investment options that are right for them. Rollover Live Chat is a live chat experience that exists exclusively behind the login and is staffed by Participant Contact Center employees. It’s meant to support participants who are interested in a rollover but might have a few questions first about what that means. You can see these new features in action by visiting the clickable web demo.
Updates on the horizon
We’ll continue to test messaging and types of resources within the experience to help participants reach their savings goals. And because we do this testing by contract number, there’s a chance that plan sponsors with multiple plans could have two employees that receive different messaging (even though the meaning is the same).
In the coming weeks, we’ll also be launching an Advanced Contributions page. Soon participants will be able to navigate to a page where they can toggle between viewing contribution amounts in percentages and dollars, as well as manage the nitty-gritty of their paycheck contributions, bonus contributions and catch-up contributions (if applicable).
If you have any questions about these updates, contact your Principal® rep or our Advisor Support Team at 800-952-3343.
1 Principal reporting Jan. 1, 2019 – March 31, 2019
Insurance products and plan administrative services provided through Principal Life Insurance Co. Securities offered through Principal Securities, Inc., 800-547-7754, member SIPC and/or independent broker-dealers. Principal Life, and Principal Securities are members of the Principal Financial Group®, Des Moines, Iowa 50392.
© 2019 Principal Financial Services, Inc.
For financial professional/institutional use only.
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