Press Release
Strong Integrates New GuidedChoice Advice Solution with
Award-Winning Education Services
MILWAUKEE, October 21, 2003 — Strong
Retirement Plan Services recently completed the rollout of its new, fully
integrated advice service with client Data Transmission Network (DTN) of
Omaha, Nebraska. Strong partnered with GuidedChoiceTM
of San Jose, California, to create a unique approach to offering retirement
plan participants advice, including online, phone consultation, and face-to-face
interaction during on-site education. The Strong GuidedChoiceTM
solution offers participants objective advice based on their specific situation;
access to experienced, professional advisors; and a "one-click"
feature to automatically choose investments in their plan, then rebalance
them quarterly on an ongoing basis.
"In partnering with GuidedChoice, we are able to combine our industry-leading
education and communication services1 and create a program that recognizes
the importance of integrating face-to-face 401(k) advice and education,"
says Elli K. Dai, Senior Vice President of Strong Retirement Plan Services.
"Strong takes the guesswork out of retirement planning, while GuidedChoice
takes the puzzlement out of investment selection."
The service will be an additional option that plan sponsors may offer their
participants. Strong GuidedChoice presents participants expert advice that
is personalized, unbiased, and easily implemented. This expert advice can
also help reduce liability for the plan sponsor.
"The advice solution we are providing together with Strong to its
clients is one of the best examples of true integration of education, advice,
and investments that we have ever seen in the industry," says Sherrie
Grabot, President and Chief Executive Officer of GuidedChoice. "One
significant benefit of this solution is that it requires very little administrative
work by the plan sponsor. GuidedChoice has the only simple yet elegant advisory
solution on the market. While other systems were built only to provide advice,
we provide advice, implement it, and manage participants’ accounts
on an ongoing basis with minimal impact to the plan sponsor’s resources.
We go beyond providing simple answers to creating solutions. It’s
the latter part that customers care most about."
DTN, a client of Strong Retirement Plan Services, piloted the program during
on-site education meetings held in late September. Of the employees who
went through the advice model, 29% enrolled in the advice solution with
67% increasing their deferral or contribution rate an average of 83%.
"Many of our employees eagerly signed up for the advice service because
they recognize the importance of saving for retirement, but also want some
help in selecting the investment options that can help them reach their
financial goals," says Sheri Viner, Director of Human Resources for
DTN. "The ongoing nature of the service also keeps their asset allocation
on track."
"This is such a tremendous asset to regular working people like me!"
says Arvin Foell, a DTN participant in Des Moines, Iowa. Pam Johnson, a
DTN plan participant in Omaha, Nebraska, concurred by saying, "I was
a little skeptical at first, but this is truly an amazing tool that will
really help people."
About DTN:
Data Transmission Network delivers customized news to more than 162,000
subscribers in four primary segments: agriculture, weather, energy, and
financial services. DTN has more than 900 employees in six locations. The
401(k) plan has $16 million in plan assets.
About GuidedChoice:
GuidedChoice is an independent advisory firm that distiguishes itself, in
part, by having designed a process based on the extensive, real-world experience
of its employees in working with individuals, retirement plans, and investment
managers. GuidedChoice delivers advice through robust analytical software
and sophisticated automation, offering one-click implementation that makes
the whole process remarkably simple to use. GuidedChoice also provides active
account management to individual participants through a patented business
process.
The GuidedChoice team of advisors responsible for overseeing the development
of the advisory software and investment solutions is led by Harry M. Markowitz,
Ph.D., the Nobel laureate for Modern Portfolio Theory. He has over forty
years experience working with financial theory, developing optimization
software, and managing assets. Dr. Markowitz is actively involved in the
day-to-day development and refinement of the analytical software that drives
the GuidedChoice suite of products. GuidedChoice corporate offices are located
in San Jose, California. Additional information is available at www.GuidedChoice.com.
About Strong:
Strong Retirement Plan Services is the retirement services division of
Strong Financial Corporation (SFC). SFC, through its wholly owned affiliate,
Strong Capital Management, Inc., operates as an independent investment
advisor serving individuals, retirement plans, institutions, foundations,
and Taft-Hartley plans. Founded in 1974, the firm manages $42 billion.
Securities are offered through Strong Investments, Inc., an affiliated
company.
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