Voya launches finance research institute
Voya Financial Inc. on Tuesday announced the launch of its Voya Behavioral Finance Institute for Innovation. The new research initiative is focused on gaining deeper insights into the behaviors and decisions of Americans regarding their financial and retirement planning activities. To create the institute, Voya teamed up with renowned behavioral economist Shlomo Benartzi, professor and co-chair of the Behavioral Decision-Making Group at UCLA Anderson School of Management, who is serving as a senior academic adviser for Voya. Among other things, research will examine how to improve outcomes in areas such as savings rates, participation in workplace plans, portfolio diversification, creating sufficient retirement income and preventing money from prematurely leaving retirement plans when participants change jobs. To access the institute’s website, click here.