The best time to educate a consumer about retirement savings topics is when the consumer is getting ready to make a transaction, according to the National Association of Independent Retirement Plan Advisors.
The best time to educate a consumer about retirement savings topics is when the consumer is getting ready to make a transaction, according to the National Association of Independent Retirement Plan Advisors (NAIRPA).
NAIRPA, an affiliate of the American Society of Pension Professionals & Actuaries (ASPPA), Arlington, Va., has given that advice in a comment letter submitted to the U.S. Securities and Exchange Commission (SEC).
The SEC has asked the public for comments on public and private investor education efforts.
Many policymakers have talked about the need to start financial literacy education as early as possible.
But, when it comes to the specifics of making investment decisions about retirement assets, education tends to be most effective when it relates to the participant's specific concerns and is available at the time of the transaction, Brian Graff writes on behalf of ASPPA.
When provided at the right time, the right kind of education can be equally effective whether provided by a live human or through electronic means, Graff says.
