The partnership will allow America’s Best 401k plan participants to use Jemstep’s online investing guidance and asset-allocation analysis to identify funds and investment strategies that fit their personal financial situation.
“In-plan retirement investing advice is in high demand,” says Tom Zgainer, CEO of America’s Best 401k. “The high caliber of the advice Jemstep provides, along with the ability to tightly integrate with our plan, creates a perfect complement to our 401k plan offering.”
Simon Roy, president of Jemstep, says the growing demand for online advice embedded within 401(k) plan offerings is especially strong in the small and mid-sized plan market, as many providers in the space don’t yet offer such service.
The firms point to recent research by consulting firm Aon Hewitt, which shows that employees who use employer-provided online investment advice see, on average, an increase in returns of more than 2% per year compared with those lacking access to online advice.
“For most participants, deciding which funds to choose and how to allocate them is complicated, and we think that everyone deserves personalized investment advice regardless of where their accounts are held or the size of their savings,” Roy says. “Working with America’s Best 401k, we are delivering expert, unbiased advice, to create a cost effective online solution to help more people.”
Plan participants will receive Jemstep’s online guidance and support within their existing plan arrangement. More information is available at www.jemstep.com.