Participants have two fundamental decisions to make… how much should I save and how should I invest? ProManage thought managed accounts were a better solution to the second question, and developed the PROgram service as a result.
The first question of how much to save was harder. We believed that for a plan with thousands of participants a computer-based approach would be in order. Likewise, there was no system we could find that generated solutions consistent with our PROgram managed accounts' principles.
ProManage has introduced Vision. Our participant guidance and advice solution uses an analytical heirarchy process (AHP) to determine if a participant is saving enough to meet retirement income objectives, and if not, how some changes in behavior could make those objectives achievable.
Vision is the solution that can answer the question of “how much should I save?”
Some investment advisors offer web-based advice services. These services tell participants which plan investment options fit their objectives depending on their individual situation.
How is Vision different?