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bjbjBrBr HELLO. I'M ELLIE DAI, PARTICIPANT SERVICES DIRECTOR FOR WELLS FARGO INSTITUTIONAL
RETIREMENT AND TRUST. TODAY, I WANT TO TAKE A FEW MINUTES TO INTRODUCE YOU TO OUR APPROACH
TO HELPING PARTICIPANTS REACH A FINANCIALLY SECURE RETIREMENT. AT WELLS FARGO, OUR APPROACH
TO THE PARTICIPANT EXPERIENCE IS CALLED PROGRESS PLUS, YOUR NEXT BEST STEP. THIS APPROACH IS
BASED ON TWO KEY BELIEFS. FIRST, PARTICIPANTS NEED TO KNOW WHERE THEY STAND, WHETHER THEY'RE
ON TRACK TOWARDS A SUCCESSFUL RETIREMENT. SO WE GIVE THEM A GOAL, AN 80% PAY REPLACEMENT
RATIO. NOW WE KNOW SOME PEOPLE MAY NEED MORE THAN THAT 80%, SOME LESS. BUT OUR RESEARCH
SHOWS THAT FOR THE MAJORITY OF THE PEOPLE, AN 80% TARGET IS A GOOD PLACE TO START. WHAT
WE FIND IS THAT MOST PEOPLE ARE NOT ON TRACK TO HIT THAT 80% PAY REPLACEMENT GOAL WHICH
BRINGS US TO OUR SECOND KEY BELIEF. WE NOT ONLY TELL PEOPLE WHERE THEY STAND, WE GIVE
THEM THEIR NEXT BEST STEP. WHAT IS ONE SIMPLE STEP THEY CAN TAKE TO MOVE TOWARDS THEIR RETIREMENT
GOAL? THE REALITY IS FOR MOST PEOPLE, IT MAY TAKE MANY STEPS TO GET ON TRACK FOR THE 80%
PAY REPLACEMENT RATIO, BUT THAT CAN BE OVERWHELMING OR INTIMIDATING. SO WE BREAK IT DOWN INTO
SIMPLE, SPECIFIC STEPS TO HELP PARTICIPANTS TAKE ACTION. WHAT DO THESE STEPS LOOK LIKE?
WE'VE DONE SIGNIFICANT RESEARCH ON HOW TO COMMUNICATE WITH PARTICIPANTS AND BE MOST
EFFECTIVE IN DRIVING ACTION. FROM THAT RESEARCH, WE'VE DEVELOPED FIVE KEY TRAITS THAT ARE WOVEN
THROUGHOUT ALL OF OUR INTERACTIONS WITH PARTICIPANTS. FIRST IS PERSONALIZATION. TODAY'S PERSONALIZATION
GOES FAR BEYOND USING NAME AND SALARY INFORMATION. WE ALSO INCORPORATE AGE, GENDER, GENERATIONAL
DIFFERENCES AND INVESTOR PROFILES TO CREATE MESSAGES THAT ARE RELEVANT TO EACH PARTICIPANT.
IT'S PROACTIVE. RETIREMENT ISN'T ALWAYS TOP OF MIND FOR PARTICIPANTS, SO WE REACH OUT
WHEN THE PARTICIPANT NEEDS TO TAKE ACTION. IT'S SIMPLE. WE MAKE IT EASY. OUR APPROACH
IS DESIGNED SO PARTICIPANT CAN CALL, CLICK OR CHECK A BOX TO TAKE IMMEDIATE ACTION. IT'S
ONGOING. WE KNOW THAT MOST PARTICIPANTS NEED TO HEAR A MESSAGE MULTIPLE TIMES BEFORE TAKING
ACTION AND THAT ADDING FOLLOW-UP COMPONENTS CAN BOOST EFFECTIVENESS. AND FINALLY, IT'S
INTERACTIVE. WE WANT TO HAVE A TWO-WAY CONVERSATION TAKING INFORMATION THAT PARTICIPANTS GIVE
US AND USE IT TO IMPROVE OUR NEXT INTERACTION. SO HOW DID THESE BELIEFS AND PRINCIPLES PLAY
OUT IN PRACTICE? OUR APPROACH IS TO PROVIDE PARTICIPANTS WITH A CONSISTENT MESSAGE SHOWING
WHETHER THEY'RE ON TRACK FOR THEIR 80% PAY REPLACEMENT RATIO REGARDLESS OF HOW THEY INTERACT
WITH US. FOR EXAMPLE, IN ON-SITE EDUCATION, WE CAN PROVIDE IN-PERSON, ONE-ON-ONE CONSULTATIONS
TO ASSESS IF PARTICIPANTS ARE ON TRACK AND ALLOW THEM TO TAKE IMMEDIATE ACTION. PARTICIPANTS
CAN COMPLETE A SIMILAR ASSESSMENT USING OUR CALL CENTER, WHICH IS OPEN EXTENDED HOURS
TO SUPPORT MULTIPLE TIME ZONES AND WORK SCHEDULES SO THAT WE'RE THERE WHEN PARTICIPANTS NEED
US TO BE. DIRECT MAIL IS ANOTHER HIGHLY EFFECTIVE COMMUNICATION CHANNEL WITH TARGETED, PERSONALIZED
MESSAGES SPECIFIC TO EACH PARTICIPANT IN A SELECTED AUDIENCE. SOCIAL MEDIA IS A QUICKLY
GROWING WAY OF INTERACTING WITH PARTICIPANTS WHERE WE USE THE ON-LINE COMMUNITY TO REINFORCE
KEY RETIREMENT MESSAGES AND FINALLY, OUR AWARD-WINNING WEBSITE IS A GREAT WAY FOR PARTICIPANTS TO
ALWAYS SEE IF THEY'RE ON TRACK, ADD IN ANY OUTSIDE ASSETS THEY MIGHT HAVE AND TAKE ACTION
WITH JUST A FEW CLICKS. ACROSS THE ENTIRE PARTICIPANT EXPERIENCE, WELLS FARGO IS HERE
TO HELP PARTICIPANTS REACH A FINANCIALLY SECURE RETIREMENT. THANK YOU FOR SPENDING A FEW MINUTES
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