Strong Integrates New Guidedchoice Advice Solution With Award-Winning Education Services
MILWAUKEE, WI, October 21, 2003 -- Strong Retirement Plan Services recently completed the rollout of its new, fully integrated advice service with client Data Transmission Network (DTN) of Omaha, Nebraska. Strong partnered with GuidedChoice of San Jose, California, to create a unique approach to offering retirement plan participants advice, including online, phone consultation, and face-to-face interaction during on-site education. The Strong GuidedChoice solution offers participants objective advice based on their specific situation; access to experienced, professional advisors; and a "one-click" feature to automatically choose investments in their plan, then rebalance them quarterly on an ongoing basis.
"In partnering with GuidedChoice, we are able to combine our industry-leading education and communication services and create a program that recognizes the importance of integrating face-to-face 401k advice and education," says Elli Dai, Senior Vice President of Strong Retirement Plan Services. "Strong takes the guesswork out of retirement planning, while GuidedChoice takes the puzzlement out of investment selection."
The service will be an additional option that plan sponsors may offer their participants. Strong GuidedChoice presents participants expert advice that is personalized, unbiased, and easily implemented. This expert advice can also help reduce liability for the plan sponsor.
"The advice solution we are providing together with Strong to its clients is one of the best examples of true integration of education, advice, and investments that we have ever seen in the industry," says Sherrie Grabot, President and Chief Executive Officer of GuidedChoice. "One significant benefit of this solution is that it requires very little administrative work by the plan sponsor. GuidedChoice has the only simple yet elegant advisory solution on the market. While other systems were built only to provide advice, we provide advice, implement it, and manage participants' accounts on an ongoing basis with minimal impact to the plan sponsor's resources. We go beyond providing simple answers to creating solutions. It's the latter part that customers care most about."
DTN, a client of Strong Retirement Plan Services, piloted the program during on-site education meetings held in late September. Of the employees who went through the advice model, 29% enrolled in the advice solution with 67% increasing their deferral or contribution rate an average of 83%.
"Many of our employees eagerly signed up for the advice service because they recognize the importance of saving for retirement, but also want some help in selecting the investment options that can help them reach their financial goals," says Sheri Viner, Director of Human Resources for DTN. "The ongoing nature of the service also keeps their asset allocation on track."
"This is such a tremendous asset to regular working people like me!" says Arvin Foell, a DTN participant in Des Moines, Iowa. Pam Johnson, a DTN plan participant in Omaha, Nebraska, concurred by saying, "I was a little skeptical at first, but this is truly an amazing tool that will really help people."
About DTN
Data Transmission Network delivers customized news to more than 162,000 subscribers in four primary segments: agriculture, weather, energy, and financial services. DTN has more than 900 employees in six locations. The 401k plan has $16 million in plan assets.
About GuidedChoice
GuidedChoice is an independent advisory firm that distinguishes itself, in part, by having designed a process based on the extensive, real-world experience of its employees in working with individuals, retirement plans, and investment managers. GuidedChoice delivers advice through robust analytical software and sophisticated automation, offering one-click implementation that makes the whole advice process remarkably simple to use. GuidedChoice also provides active account management to individual participants through a patented business process.
The GuidedChoice team of advisors responsible for overseeing the development of the advisory software and investment solutions is led by Harry M. Markowitz, Ph.D., the Nobel laureate for Modern Portfolio Theory. He has over forty years experience working with financial theory, developing optimization software and managing assets. Dr. Markowitz is actively involved in the day-to-day development and refinement of the analytical software that drives the GuidedChoice suite of products. GuidedChoice corporate offices are located in San Jose, California. Additional information is available at www.GuidedChoice.com.
About Strong
Strong Retirement Plan Services is the retirement services division of Strong Financial Corporation (SFC). SFC, through its wholly owned affiliate Strong Capital Management, Inc., operates as an independent investment advisor serving individuals, retirement plans, institutions, foundations, and Taft-Hartley plans. Founded in 1974, the firm manages $42 billion. Securities are offered through Strong Investments, Inc., an affiliated company.
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