Announcing Principal Real Start plan onboarding
You’ve heard us talk about Principal® Real Start for participant onboarding, but now, it’s more than that. Principal® Real Start is how each individual (plan sponsor or participant) should feel when they get started at Principal®. We’re launching a new plan onboarding platform that’s personalized, simple and digital. Our approach is about aligning with how and when you work with your clients to help them reach their goals.
The new onboarding platform will let bundled, startup 401(k) plans get up and running in a simpler and streamlined way. We’ve been piloting the process internally since mid-May with a select group of our client onboarding managers, but now we’re nearly ready to continue our phased approach with a launch to select advisors and plan sponsors.
What’s in it for you
Time. The digital platform allows you to more efficiently guide your clients through the process, giving you more time to run your practice and advise clients. You can take the lead by filling out and submitting the information on behalf of your client, walk them through in-person or over the phone, or let them fill out what they can – it’s all about how you work best with your clients.
How it works
In the simplest terms, your client will receive an email with a link after the Notice of Intent (NOI) is signed and the plan is committed that allows you and them to:
- Establish security access faster (web administrator questions)
- Gain access to our employer website sooner
- Keep track of the timeline and progress, 24-7
- Input information about their organization
- Add or review information about plan design
The first external launch is to a handful of bundled, startup 401(k) plans because they’re much less complex. We’ll watch their progress and monitor feedback for a few weeks before launching to all bundled, startup 401(k)s and expanding capabilities. We’ve started discussions around which plans or which parts of the client onboarding process will be next, so stay tuned! In the meantime, check out the promotional video and clickable demo to get more information about Principal® Real Start plan onboarding.
Insurance products and plan administrative services provided through Principal Life Insurance Co., a member of the Principal Financial Group®, Des Moines, IA 50392.
© 2019 Principal Financial Services, Inc.
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