plan. We all know that the defined contribution plan system at present has massive room for improvement. By and large, employees simply don't save enough to retire well. Most participants have a "set it and forget it” mentality during an enrollment meeting and that’s the last time they are engaged.

Parabola aims to disrupt the current retirement system by optimizing it to reach its full potential and finally be an adequate replacement for the obsolete defined benefit plan liability. In other words – pushing the probability light years ahead toward meeting the saver’s needs.

The Parabola mobile app helps the end user reduce financial stress by linking their accounts and automatically tracking progress toward nearly 50 common and pre-defined financial goals. The user is notified when they reach a goal and awarded a badge, similar to what you might see with Fitbit or other fitness-related concepts.

Because the user has linked their various accounts (the average adult has 16 different accounts from credit cards to checking/savings to car and mortgage loans), they can more consistently and easily make deposits, enhancements, asset allocations, evaluations, and more. Their advisor (who provides the mobile app) receives a more complete financial picture much more quickly than the typical data collection method and can give better financial advice as a result. Rather than focusing on data collection, the advisor can best utilize time helping the client. This information is always up to date and readily available.

Our primary goal is to drive users to increase contributions to their company retirement plans and personal investments. The natural effect is better outcomes toward achieving goals while AUM increases which helps advisors build AUM (and their compensation) more quickly.