Money Management Executive
Retirement Web Services Inadequate
September 14, 2001, 1:00 a.m. EDT 1 Min Read
A Web consulting firm that serves the financial services industry said in a report to be released next week that companies are woefully underserving investors who save for retirement.
The report, conducted by New York-based kasina and titled "Retirement Investing Online: Retail, Intermediary & Participant Strategies," found that asset managers are doing only "a mediocre job" of using the Web to service individual retirement investors. "Given the enormous role that retirement investing plays in bringing in assets for money managers, firms should focus on using their Web site to attract, service and retain retirement investors," said kasina ceo Steven Miyao. That means investors should get easy access to information, planning tools and education.
For example, fewer than 15% of sites currently allow investors to authorize new IRAs online, said Derek Evans, a consultant at the company.
The company chose five stand-outs in the sector that have done much better than most in providing such services. The include, in no particular order, Vanguard, TIAA-CREF, American Century Investments, Fidelity and American Express.
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Money Management Executive
