As indicated by the current negative savings rate, most Americans are not saving enough for their retirement. The vast majority of the retirement investing that is taking place is done through employer-sponsored DC plans. Since the retirement planning dollars are flowing primarily through the employer, String Financial™ has developed a suite of products and services offered exclusively through employers.
Serving as the foundation of our offering is the StringAccount™, which unites all qualified and non-qualified savings in a single dashboard. While tax-favored vehicles such as 401(k)s remain the product’s core investment vehicle, String Accounts™ provide an integrated framework for retirement planning that is significantly more comprehensive than a traditional DC plan. Below are some product and service highlights.
One dashboard – StringAccounts ™ simplify portfolio management by uniting 401(k)s, IRAs, other qualified and non-qualified accounts in a single view that allows easy drill-down to individual account and investment level detail on absolute and relative performance, risk metrics, and asset allocation. (see demo)
Funding – StringAccounts™ can be funded through multiple sources including payroll deduction and bank accounts, ensuring participants can continue to fund and manage their portfolio through the StringAccount interface if a future employer is not a String™ client.
Low-cost investment options – The investment options in proprietary products are pre-screened, low-cost investments with an emphasis on index funds and non-actively managed ETFs.
Longevity protection – String’s proprietary products provide protection from the equity market, interest rate, inflation, and timing risks that drive longevity concerns. StringIncome™ is a low-cost variable annuity that provides an actuarially neutral guaranteed income benefit. Longevity Protector™ can be though of as a complement to life insurance that pays a benefit when you live, not when you die.
Education and Advice – Education. String Financial’s StringSchool™ is an educational resource for investors of all experience levels while the StringTools Suite™ includes sophisticated modeling tools for those comfortable managing their own portfolios (and is also available to advisers). For those looking for advice, String provides three options: