Item: Human Interest
Rating: 7
Author: Verified User

Use Cases and Deployment Scope

My organization uses Human Interest to administer our 401(k) plan. After the former vendor lacked usability for our team members, we switched to Human Interest. We wanted to low-cost option that had an easy to use portal and a responsive support team.

Pros and Cons

Visuals within interface (on the front-end)

No easy way to report on current year contributions from other organizations - team members reports it but no report on the back end
No day-to-day market impact visuals like other tools (Fidelity)
Can't terminate a team member in the system in advance of their last day (have to add a reminder even if they put their notice in earlier)
My rollover contribution check (over $70,000) was lost within your trust for several weeks

Return on Investment

Low fees are appealing for employee and employer

Usability

There are a lot of great features, but there is a lot of work to be done to be as robust as some of your competitors.

Alternatives Considered

We selected HI due to low fees for team members and employees, as well as the simple and easy to use platform.

Key Insights

Do you think Human Interest delivers good value for the price?

Yes

Are you happy with Human Interest's feature set?

Did Human Interest live up to sales and marketing promises?

Yes

Did implementation of Human Interest go as expected?

Yes

Would you buy Human Interest again?

Yes

Other Software Used

Active Trader Pro (Fidelity Investments)

Likelihood to Recommend

The user experience for a team member is good. The graphic design and portal are nice. They could use more features to see day-to-day changes within the market, as well as more robust reporting features.

There have been instances when things appeared disorganized on the back end. I rolled over a previous 401(k) and the funds were lost within your trust. No one notified me and I had to email several people over the course of several weeks to locate it. This is a major concern when housing your money with someone.

When new team members start, we are sent an email that lists their year-to-date contributions with another provider. There is no where within the admin portal where we can run a report that lists other contributions to date.

Minor enhancements needed to a great product

Overall Satisfaction with Human Interest