Here is the second part of my behavioural finance conversation with Stephen Huppert. In this 13 minute recording we discuss problems we have seen with various forms of super fund member engagement - letters, emails, web sites - and how they can be better aligned with behavioural research. More specifically, we discuss the benefits of super funds providing short bursts of member engagement that are delivered just-in-time, with personal relevance, and that are linked with an identifiable and easy action for members to take. We cover the use of data & technology, checklists and decision-trees, the fact that people don't like think of themselves as average (even if they are), and how people who have already retired aren't interested in learning how to prepare for retirement! The conversation is relevant for super funds primarily, but also financial advisers.
