Resources’ Teams Win Three Eddy Awards
Pensions & Investments awarded 1st place Eddy Awards to Resources Investment Advisors and two partner firms on March 11th, 2019. The Eddy Awards are an annual program recognizing plan sponsors and service providers that exhibit best practices in offering investment and financial education to defined contribution plan participants.
The details included in the awards ceremony were listed as follows:
CATEGORY: Financial Wellness - recognizes plan sponsors growing interest in helping participants better manage their financial lives.
First Place
SERVICE PROVIDER: Resources Investment Advisors
Judges said the Financial Elements program and the focus on breaking down financial concepts into small elements to increase financial literacy and reduce financial stress were good for reaching millennials in the workforce. The use of financial professionals as " mentors" and providing plan sponsors with real-time place level data were also considered innovative. Materials were appreciated for being "non-judgmental" and "conversational."
Ashley Barb, Vice President of Client Experience at Resources Investment Advisors, accepted the award on behalf of Financial Elements. Financial Elements is Resources' proprietary participant engagement and financial wellness program. More information about Financial Elements can be found at www.financial-elements.com.
CATEGORY: Ongoing Investment Education
Corporate: Under 1,000 Employees
First Place
PLAN SPONSOR: Nova Financial & Investment (Client of George Fraser and Retirement Benefits Group, a Resources' partner firm)
SERVICE PROVIDER: OneAmerica
Nova set a big goal for boosting participation in its retirement plan, aiming to reach a rate 80% or more with 24 months, from 65%. A multifacted print and digital campaign communicated the offerings of the retirement plan - which added auto enrollment and escalation - and promoted retirement education. Nova more than reached its goal, with current participation now at about 97%. One judge noted: "Simple phrasing and message brought stellar results."
CATEGORY: Special Projects - recognizes special investment education and communication programs
First Place
SERVICE PROVIDER: Chepenik Financial, a Resources' partner firm
A taco truck and its "Let's taco-bout retirement" and "Big flavors for big savers" slogans, among others, made this campaign standout as an idea that would be attention-grabbing and memorable. Judges felt it would help employees associate something fun - and tasty - retirement planning topics.