Management Consulting
Aon
Full Credential Description
Aon partnered with SmarterInvestment and Unum to address the challenges employees face in managing their investments and savings, particularly through workplace ISAs. Research indicated that 47% of employees found investments and savings complicated, and 52% expressed a desire for simpler management options. The partnership aimed to demystify the process of investing in stocks and shares ISAs, which had previously deterred many employees from engaging in investment opportunities. The tailored solution involved offering ready-made diversified portfolios of top-rated funds through Aon's platforms, including Aon Plus and the Aon MasterTrust. This approach provided employees with clear information on potential investment outcomes, including good, bad, and most-likely scenarios for each fund. Additionally, a free monitoring and alert service was introduced to help employees maintain their investment portfolios in line with their risk appetites and to inform them of better investment opportunities as they arose. The initiative responded to a significant market need, as Aon's Defined Contribution Member Survey revealed that 60% of individuals would follow their employer's guidance when selecting savings options. The partnership not only simplified the investment process but also aligned with the growing corporate focus on financial wellbeing, highlighting the importance of a well-rounded employee benefits package. This strategic collaboration aimed to empower employees to take control of their financial futures, ultimately enhancing their engagement and satisfaction with workplace benefits.