Left Coast Solutions, a start-up company based in Santa Rosa, Calif., announced Wednesday the launch of mobile software designed to use behavioral finance techniques to help workers plan for retirement.
iJoin shows workers a personalized analysis of their retirement situation and is accessible from any device.
“Our mission is to improve the retirement security of millions of American workers,” Fred Greenstein, CEO of Left Coast Solutions, (left), told AdvisorOne on Thursday. Mobile technology represents a “whole new paradigm” for how to do that, he said.
The software is a “virtual advisor” that can guide workers either individually or in group settings through the process of planning for retirement. Retirement-plan advisors can use the software as a supplement to educational meetings, which Greenstein has said have proven to be “extremely ineffective.”
“Instead of having meetings and giving workers a form to fill out or directing them to a website to visit when they have time, workers can pull out their smartphone and go through the process together,” he said.