PLANSPONSOR - July - August 2023 - 12
Social Media: Gen Z's Research Source
UPFRONT
A
s members of Generation Z start
their first jobs and are enrolled into
workplace retirement plans, they often
turn to social media to understand how
retirement investing works.
More information than ever before
is available, but sifting through all that
content to find reliable and relatable information
can be a challenge.
" Although Gen Z is thought of as
kind of the most tech-advanced generation,
... they're still very new to the workforce.
I think that's important to remember, "
says Julia Stati, a customer engagement
specialist at Sentinel Group, a full-service
employee benefits firm.
Social Media for Research
Kirsten Hunter Peterson, vice president of
thought leadership at Fidelity Investments,
says it is not surprising to see this generation
use social media for research, since it is
convenient, accessible and what they use in
their personal lives to look up information.
Because of that, firms such as Fidelity
are reinventing how they provide financial
education, especially for younger investors.
Hunter Peterson says Fidelity is seeing
engagement grow quickly on platforms
such as TikTok and Instagram, especially
short videos and one-page infographics.
Bitesize content can open the door for
further engagement if users are interested
in learning more.
Tori Dunlap, founder of Her First
$100K and a paid contributor to Empower's
The Currency educational website, has
2.3 million followers on TikTok and says
people who use social media to find financial
information are looking for someone
trustworthy. They
are using platforms
such as TikTok or YouTube, rather than
starting with a browser such as Google.
Once they find someone to trust,
they will follow that person to do deeper
research. " That's where the blog content
comes up. That's where a course, or something
that's more educational beyond a
60-second video, " fits in, she says. " People
aren't turning to financial advisers; they're
turning to the internet. "
Topics of Interest
For
years, plan sponsors have
limited
their financial education to retirement
saving, but sources interviewed say plan
Participants
" want it to be more
self-service, like,
'I'm at point 0.
Tell me about
step 1. Don't tell
me about steps
1 through 10
at once ...' "
12 PLANSPONSOR.COM July - August 2023 Art by Melinda Beck
http://www.PLANSPONSOR.COM
PLANSPONSOR - July - August 2023
Table of Contents for the Digital Edition of PLANSPONSOR - July - August 2023
INSIGHTS
PARTICIPANT ANALYSIS
RULES & REGULATIONS
UPFRONT
2023 PLANSPONSOR National Conference
2023 Plan Sponsor of the Year Winners
23 Recordkeeping Survey
Will ‘2.0’ Plug the Leaks?
The Way to Go
Use It or Use It
Stable Value in Focus
Auto-Enrollment Is Still Key
PLANSPONSOR - July - August 2023 - Cover1
PLANSPONSOR - July - August 2023 - Cover2
PLANSPONSOR - July - August 2023 - 1
PLANSPONSOR - July - August 2023 - INSIGHTS
PLANSPONSOR - July - August 2023 - 3
PLANSPONSOR - July - August 2023 - 4
PLANSPONSOR - July - August 2023 - 5
PLANSPONSOR - July - August 2023 - RULES & REGULATIONS
PLANSPONSOR - July - August 2023 - 7
PLANSPONSOR - July - August 2023 - UPFRONT
PLANSPONSOR - July - August 2023 - 9
PLANSPONSOR - July - August 2023 - 10
PLANSPONSOR - July - August 2023 - 11
PLANSPONSOR - July - August 2023 - 12
PLANSPONSOR - July - August 2023 - 13
PLANSPONSOR - July - August 2023 - 2023 PLANSPONSOR National Conference
PLANSPONSOR - July - August 2023 - 15
PLANSPONSOR - July - August 2023 - 16
PLANSPONSOR - July - August 2023 - 17
PLANSPONSOR - July - August 2023 - 2023 Plan Sponsor of the Year Winners
PLANSPONSOR - July - August 2023 - 19
PLANSPONSOR - July - August 2023 - 20
PLANSPONSOR - July - August 2023 - 21
PLANSPONSOR - July - August 2023 - 22
PLANSPONSOR - July - August 2023 - 23
PLANSPONSOR - July - August 2023 - 24
PLANSPONSOR - July - August 2023 - 25
PLANSPONSOR - July - August 2023 - 26
PLANSPONSOR - July - August 2023 - 27
PLANSPONSOR - July - August 2023 - 28
PLANSPONSOR - July - August 2023 - 29
PLANSPONSOR - July - August 2023 - 23 Recordkeeping Survey
PLANSPONSOR - July - August 2023 - 31
PLANSPONSOR - July - August 2023 - 32
PLANSPONSOR - July - August 2023 - 33
PLANSPONSOR - July - August 2023 - Will ‘2.0’ Plug the Leaks?
PLANSPONSOR - July - August 2023 - 35
PLANSPONSOR - July - August 2023 - The Way to Go
PLANSPONSOR - July - August 2023 - 37
PLANSPONSOR - July - August 2023 - Use It or Use It
PLANSPONSOR - July - August 2023 - Stable Value in Focus
PLANSPONSOR - July - August 2023 - Auto-Enrollment Is Still Key
PLANSPONSOR - July - August 2023 - Cover3
PLANSPONSOR - July - August 2023 - Cover4
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