Welcome to our March issue of Vanguard at Work. I'm excited for you to dive into this month's newsletter and discover how Vanguard leverages technology to help drive outcomes that matter most to our shared clients. Plan sponsors and participants have felt the momentum in the last year: faster transaction times, a reduction in errors, an improvement in satisfaction, and new tools that are putting retirement within reach for participants. And that's just the start.
Before you keep reading, take a moment to watch a brief video from Sam Anaokar, head of Strategy, Partnerships, and Operations at Vanguard. Sam will share where technology is taking us and how it fits into our client-first approach to better serve plan sponsors and their participants.
of participants took at least one positive action last year to improve financial well-being.
Full-career participants in Vanguard 401(k) plans, on average, are on track to replace 68% of their income in retirement.*
overall satisfaction among Vanguard 401(k) participants with their experience calling Vanguard.*
of our operational service levels are at or above our targeted goals.*
first-call resolution for participants calling into Vanguard.*
Did you know that Vanguard is using bots (or intelligent automation) in new and different ways to help improve the participant experience and lighten the load for plan sponsors?
Our comprehensive intelligent automation portfolio focuses on improving operations. For example, we have a suite of robotic process automation models, including one that supports the hardship determination process. This model has successfully automated the processing of 115,000 hardship determination requests over 11 months. This automation not only improves precision and efficiency, but most importantly, it provides faster support to our participants during a stressful time.
You can use our dedicated online consultant portal to access your entire Vanguard book of business in just a few clicks or taps. Custom reports, client information, fund research, and thought leadership are all at your fingertips.
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Contact consultantrelations@vanguard.com to register.
Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.
Student Loan Debt Services are provided by Candidly. Candidly is not affiliated with The Vanguard Group, Inc., Vanguard Marketing Corporation, or any of their affiliates.
The student loan debt services do not provide investment advice or recommendations, but rather student loan debt management guidance and education.