Customers who have their retirements plans through Fidelity Investments will now be able to access account information on a mobile device through the NetBenefits smartphone application. The app is available to Fidelity's 15.8 million workplace participants as a part of the company's overall participant experience, Plan for Life.
The app provides a summary view of all Fidelity-serviced accounts, including workplace savings, personal investment and health insurance, as well as personal investing accounts held with Fidelity, such as retirement and non-retirement brokerage accounts, health savings accounts (HSAs) and 529 College Saving Plans. Participants can check their balances, see personal rate of return and track investments. Users can also view plan summaries and vesting balances of their stock plan services accounts, as well as get a thorough assessment of their medical, dental, and vision health and insurance plans.
Although the app provides access to view a variety of accounts an information, it only provides certain transactional capabilities. At this time, employees can make transactions for their Stock Plan through the app, according to Charles Berman, SVP of digital platforms for Fidelity Investments. For additional transactional access, live assistance is available through the app by tapping the screen to call their plan’s toll free number so that they can make changes to their investments on-the-spot, adds Berman.
"Keeping employees engaged and on track with their retirement and financial goals is key to helping them achieve better outcomes," said Berman, in a statement. "As more Americans use mobile devices to manage their daily lives, plan sponsors can now more easily help individuals stay engaged and be informed -- all at the tap of their smartphone."
Available across various platforms -- including iPhone and iPod touch devices, Android phones, and Safari and Google Chrome browsers -- the app enables users to visualize and access their latest NetBenefits accounts and benefits information via their mobile phones.
For live assistance and help, participants can call their plan's toll free phone number through the app's functionality. "Whether checking up on their retirement balance or reviewing fund performance, mobile technology is benefiting individuals by granting them access to information they need, when they need it," said Berman. "It's easier now more than ever for employees to know at-a-glance how their accounts and savings are performing. This engagement is important as they plan for retirement and all that life entails." Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio