The power of behavioral science
- The Participant EffectSM uses the field of behavioral finance to analyze why employees don’t always make the best decisions, and provides specific steps employers can take to make their plans more effective. Behavioral finance looks at the psychological obstacles—including inertia, loss aversion, and myopia—that often prevent employees from making decisions that are in their best interest and works to turn these psychological weaknesses into strengths.
- Behavioral finance and financial wellness are a powerful combination. Together, they can help turn plan participants’ weaknesses into strengths, overcoming psychological obstacles such as inertia, loss aversion and myopia.
- At FiduciaryFirst, we have been using the PlanSuccess Method since 2011 and we’ve seen dramatic results across small, medium and large retirement plans—at both blue-collar and white-collar employers.
We suggest establishing goals as to how we can move the needle to allow your employees to
SAVE, SAVE MORE and SAVE SMARTER.