|Financial Engines Reaches $25 Billion in Managed Accounts|
|View printer-friendly version|
100,000 New Participants Join Managed Accounts Program in 2009
PALO ALTO, Calif., November 19, 2009 – Financial Engines, a leading provider of retirement help, today announced that it is now managing more than $25 billion in defined contribution assets through its managed account program. Close to 390,000 participants have their retirement accounts professionally managed by Financial Engines, including 100,000 new members in managed accounts since the beginning of 2009.
In the third quarter of 2009, Financial Engines continued to see retirement plan participants take advantage of its services. In each month of the third quarter, over 60,000 participants used online advice, enrolled in managed accounts or consulted with a Financial Engines advisor. Also in the third quarter, the company conducted more than a thousand Retirement Checkups, a phone consultation addressing the unique needs of participants age 50 and older. Seventy-five percent of participants who experienced this new offering made changes to their retirement strategy.
"Financial Engines' continued growth demonstrates the need for retirement help," says Jeff Maggioncalda, president and CEO of Financial Engines, Inc. "In the face of incredible market upheaval, Financial Engines has bucked the trend and grown. Sponsors continue to hire us to help their participants and employees are taking advantage of the help provided."
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, investing, 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 registered trademarks or service marks of Financial Engines, Inc. Advisory and sub-advisory services are provided by Financial Engines Advisors LLC, a federally registered investment advisor.
Signed clients include both those that are Financial Engines advisory and sub-advisory clients.