Investors Just Got Their 2nd Advocacy Group, After ZenInvestor.org
SAN FRANCISCO, Jan. 21, 2015 /PRNewswire-iReach/ — The National Association of Retirement Plan Participants (NARPP) today launched their consumer financial education website: www.NARPP.org. For the first time, the millions of Americans who are participating in 401k’s, IRAs and other savings plans, have an advocate and a source for simplified and unbiased help in making retirement and financial decisions. NARPP’s site is unique to the $24 trillion dollar retirement savings industry; the site does not allow advertising, and does not sell products and services. It is free to everyone.
Leveraging a deep bench of experts in communications, behavioral finance, intuitive design and retirement savings, NARPP has launched financial education into a new era by transforming financial information into an effective empowerment tool. Until now, individuals have had to rely on information sources that are simultaneously trying to educate and sell products. With trust in financial institutions at historic lows, (11%) this arrangement has proven problematic for individual savers. “We know that low levels of trust translates into low levels of engagement,” says Warren Cormier NARPP’s Chief Behavioral Officer.
“Financial decisions, and retirement planning in particular, have gotten incredibly complicated in the 21st century. One of the key goals of NARPP is to make it a lot easier for people to make the right choices for their financial futures,” saysUCLA Professor Shlomo Benartzi, one of NARPP’s original co-founders, “I have always thought that we need an independent organization like NARPP to help plan participants make better decisions.”
The NARPP site features a broad range of content that is designed to give an easy access, on-demand educational experience, that will help people avoid common mistakes and navigate the complex world of retirement savings. Content will be added on a regular basis. Highlights currently include: everyday people talking about their financial concerns and questions, tools to help pay down debt and make a budget, and the FI Academy which features simple answers to common savings and financial questions.
“Because there is so much fear around saving for retirement, we have taken a more human-centered design approach in how to deliver financial information.” says Bill Cahan, NARPP’s Director of Strategy and Design, “Putting the individual’s needs at the center of the conversation represents a significant paradigm shift in the world of financial services.”
NARPP is working with various stakeholder groups to reach their audience including, employers, retirement advisors, financial services companies and other non-profit groups and organizations who are committed to improving financial security for working Americans.
“The individual has 100% of the responsibility for initiating, executing, and maintaining a retirement savings plan, this is something few people are equipped to do,” says Laurie Rowley, NARPP’s Co-Founder and President. “Financial behaviors influence all aspects of personal health and wellbeing, if we want people to thrive we have to give them the appropriate tools and resources to help make that happen.”
You can visit NARPP at: www.NARPP.org
NARPP is a San Francisco-based 501(c)(3) non-profit organization whose mission is to advocate for individual savers. Through pioneering research, independent coalition building, and innovative educational programs, NARPP is making financial information transparent and universally accessible for the 145 million working Americans saving for retirement.
To view this video on YouTube, please visit: https://www.youtube.com/watch?v=Rw2K6vL_n4g
Media Contact:Laurie Rowley, NARPP, The National Association of Retirement Plan Participants, 415-509-9687, Laurie.Rowley@NARPP.org
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SOURCE NARPP