We’ve redesigned the Annual Statement so that it’s easier to navigate and understand.
The redesign was informed by extensive research conducted with members and advisers, to ensure the annual statement meets the needs of each member.
We’re aiming to help lift member education and engagement by removing jargon, adding graphs, charts and personal call to actions and rearranging the information so that the most important info comes first. Some key enhancements have been outlined below.
Your account summary page
A new summary page gives a member a quick overview of their account – key information includes account value, performance, fees, investment earnings broken down into income and market growth
Graphics and charts
The use of graphics reduces the need for large blocks of text for the member to read. We’ve included a bar graph showing two to five years of account values, which aims to help clients visualise the change in value of their account over time, encouraging progress towards their desired financial goals. We’ve also introduced an asset allocation doughnut chart which shows % of assets invested in each asset class. All charts match North Online style and layout, making the experience more consistent for members.
Personalised calls to action
The new statement contains calls to action which are specific to the account holder, and appropriate to the page content they appear on. This will make clients aware of issues they can resolve independently or with your help (eg adding a beneficiary) or opportunities to take advantage of (eg adding insurance).
The changes will apply to all super and pension annual statements for the following products:
Updated client email
We’ve also updated the email we send to clients to let them know their annual statement is available. The email now reflects the updated North branding, lets clients know there are changes to the annual statement, and shows them how to access it via North Online.
If you’d like to know more please contact your business development manager.