Diversions November 6, 2014

Connected Cars Are on the Rise

Who’s most attracted to the wired, connected car? The answer may surprise you. Hint: he might have been rocking out at Woodstock back in the day.
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Whether it’s a feature as straightforward as streaming audio or a car interior that’s a wired hotspot, connected car systems are here. And the biggest users are not Gen Y, those never-offline lovers of tech, but male Baby Boomers, a Nielsen survey says.

Of the 44% of the potential buyers contemplating a new auto purchase within the next two years, a majority (39%) are very likely to buy a connected car with built-in features. Three out of five potential buyers want a connected car so they can “experience emerging technologies.” More than half (58%) feel it will provide entertainment to passengers, and 43% say it will boost productivity while they’re on the road.

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Most connected car users (58%) are men, the survey finds. More than four in 10 of this male population (42%) are 55 or older. Many have at least one college degree (62%), and 37% make more than $100,000 per year.

Safety is among highest-ranking features buyers look for in a connected car. Among potential buyers, 79% believe a vehicle’s safety features will make them feel safer while on the road. Users of connected car technologies also value crash notifications (64% rank this “very important”), Internet-enabled navigation (58%) and safety alerts (51%).

Drivers use connectivity for entertainment about one-third of the time, with about a third (36%) of connected car users streaming audio every time they were in their car. More than one in four (26%) connect to the Internet every time they’re in their car, and 41% say they connect “regularly.” More than one in five (21%) use connectivity to download media every time they’re in their car, and more than one in four (27%) do so regularly.

Among other findings:

  • More than a third (37%) of connected car users spend 30 minutes to an hour in their cars regularly;
  • Nearly a fourth of all music listening each week takes place behind the wheel, according to Nielsen’s latest Music 360 report; and
  • Forty-six percent of connected car users use driving analytics and 41% use wireless hotspots every time they’re on the road.
    Products November 5, 2014

    Nationwide Adds Managed Account Monitoring to Fiduciary Services

    Nationwide has expanded the company’s 3(38) investment fiduciary service from IRON Financial, LLC.
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    Nationwide’s 3(38) investment fiduciary service will now include fiduciary monitoring of Nationwide ProAccount, Nationwide’s managed account service, at the plan level for no additional cost.

    When a plan sponsor elects the 3(38) service, IRON Financial assumes the responsibility and legal liabilities associated with selecting, monitoring and replacing plan investments under section 3(38) of the Employee Retirement Income Security Act of 1974 (ERISA).

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    “At Nationwide, our goal is to make it easier for America’s businesses to offer a successful retirement plan,” says Joe Frustaglio, vice president of private sector retirement plan sales for Nationwide. “Expanding the 3(38) investment fiduciary service helps us accomplish that goal by enabling both plan sponsors and participants to work with investment experts to tailor the optimal retirement plan, and improve plan engagement and health while reducing fiduciary risk.”

    In addition to 3(38) investment fiduciary service from IRON Financial, Nationwide offers fiduciary support through Fiduciary Series, Fiduciary Warranty, Morningstar 3(21) Fiduciary Service, Nationwide ProAccount Discretionary Managed Account Service and the ANB Trust Full Discretionary Trustee Retirement Service.

    Plan sponsors interested in learning more about Nationwide’s fiduciary service options should call 1-800-626-3112.

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