600+ Companies with More than Nine Million Employees Trust
Financial Engines’ Independent Advisory Services
SUNNYVALE, Calif.--(BUSINESS WIRE)--Mar. 10, 2015--
Financial Engines (NASDAQ: FNGN), America’s largest independent
registered investment advisor, today announced that collective assets in
employer retirement plans offering the company’s advisory services
exceed $1 trillion. More
than 600 companies now trust Financial Engines to deliver
independent advisory services to more than nine million employees.
Companies making Financial Engines advisory services available to their
employees include Microsoft, Mondelēz International and Northrop Grumman.
Financial Engines helps customers prepare for and live in retirement by
providing independent online investment advice, professionally managed
accounts and services for near-retirees, such as Social Security
claiming guidance. The company introduced managed accounts to the
retirement marketplace in 2004 and the service is now recognized as a
best practice 401(k) plan feature nationwide. In the last five years,
the company has experienced an increase of more than 245 percent in the
aggregate assets of retirement plans where its services are available.1
“Financial Engines is honored to be trusted by so many large employers
to deliver independent, high quality retirement help to their employees
– something that we believe every American deserves,” explained Lawrence
Raffone, president and chief executive officer of Financial Engines.
“Companies hire us for the retirement results we provide employees, our
non-conflicted advice, and our deep integration with the nation’s
leading record keepers. Employers’ continued trust has enabled us to
advocate for millions of Americans as they plan, save and invest for
According to a joint
2014 report from Financial Engines and Aon Hewitt (NYSE: AON) that
examined investing behavior of 723,000 workers at 14 large U.S.
employers, 401(k) participants who used professional retirement help in
the form of managed accounts, target date funds or online advice had
median annual returns that were on average 3.32 percent higher, net of
fees, than participants managing their own portfolios.2 In
addition, Financial Engines has identified more than six billion dollars
in additional Social Security benefits3 for users of its Social
Security planner, which the company introduced last year.
About Financial Engines
Financial Engines is America’s largest independent investment advisor.4
We help people make the most of their retirement assets by providing
professional investment management and advice. Headquartered
in Sunnyvale, CA, Financial Engines was co-founded in 1996 by Nobel
Prize-winning economist Bill Sharpe. Today, we offer retirement help to
more than nine million employees across 600+ companies nationwide
(including 144 of the Fortune 500). Our investment methodology, combined
with powerful online services, dedicated advisor center and personal
attention allow us to help more Americans get on the path to a secure
Advisory and sub-advisory services provided by Financial Engines
Advisors, L.L.C., a federally registered investment advisor and
wholly-owned subsidiary of Financial Engines, Inc. Financial Engines
does not guarantee future results.
This press release contains forward-looking statements, including
statements regarding the use of professional investment and financial
planning help, which involve risks and uncertainties that could cause
actual results to differ materially. These risks and uncertainties are
outlined in our SEC filings. You are cautioned not to unduly rely on
these forward-looking statements, which speak only as of the date of
this press release. Unless required by law, Financial Engines undertakes
no obligation to publicly revise any forward-looking statement to
reflect circumstances or events after the date of this press release or
to report the occurrence of unanticipated events.
1 Comparing Financial Engines Assets Under Contract (AUC)
from March 31, 2010 to March 3, 2015. Please refer to our securities
filings for the definition of AUC.
2 Help in Defined Contribution Plans: 2006 through 2010
published September 2011. The study is available on financialengines.com
3 Based on application of Financial Engines’ Social Security
guidance regarding claiming strategies for unique users between March
12, 2014, and January 31, 2015. Financial Engines uses information about
users and their stated goals and applies our knowledge of the Social
Security system, among other factors, in providing its claiming
guidance. Each individual can decide when is the best time to claim
Social Security, based on their own personal circumstances. Estimates
are not guarantees of future benefit payments.
4 For independence methodology and ranking, see
InvestmentNews Data Center. (http://data.investmentnews.com/ria/).
Source: Financial Engines
Mike Jurs, 408-498-6590