|Financial Engines Managing Over $20 Billion in Retirement Assets|
|View printer-friendly version|
More than 370,000 Participants Select Financial Engines to Manage Their Retirement Accounts
PALO ALTO, Calif., August 3, 2009 – Financial Engines, a leading provider of retirement help, today announced that it is now managing more than $20 billion in defined contribution assets through its managed account program. More than 370,000 retirement investors have their retirement accounts professionally managed by Financial Engines. This milestone ranks Financial Engines among the 30 largest defined contribution asset managers.1
Large plan sponsors continue to select Financial Engines because of the company's independence and track record of helping employees at leading companies. Financial Engines' recent introduction of broader retirement help has also contributed to the company's growth. Today Financial Engines is helping investors with their total retirement picture by offering personalized retirement plans for saving, investment, and retirement income. In the first half of 2009 Financial Engines was hired by more than 35 plan sponsors representing 300,000 participants to provide both online advice and professional management including Pacific Gas & Electric and Republic Services, Inc.*
"The do-it-yourself 401(k) doesn't work for most people," says Jeff Maggioncalda, president and CEO, Financial Engines. "After the 2008 market collapse, we are ushering in a new era for the 401(k) where participants aren't fending for themselves but have the professional retirement help they need."
About Financial Engines:
Financial Engines is a leading independent investment advisor committed to providing everyone the trusted retirement help they deserve. The company helps investors with their total retirement picture by offering personalized retirement plans for saving, investment, and retirement income. Financial Engines offers both online advice and professional management to meet the needs of different investors. Cofounded in 1996 by Nobel Prize-winning economist Bill Sharpe, Financial Engines works with America's leading employers and retirement plan providers to make retirement help available to millions of American workers. For more information, please visit www.financialengines.com.
Financial Engines® and Retirement Help for Life® are trademarks or service marks of Financial Engines, Inc. Advisory and sub-advisory services are provided by Financial Engines Advisors LLC, a federally registered investment adviser.
*Signed clients include both those that are Financial Engines advisory and sub-advisory clients.
1Pensions & Investments, Managers of defined contribution assets, U.S. institutional, tax-exempt assets, as of Dec. 31, 2008, published in the May 18, 2009 edition of Pensions & Investments. Financial Engines relationship to the rankings is based on the assets managed by Financial Engines at the end of 2008.