SUNNYVALE, Calif.--(BUSINESS WIRE)--Jul. 13, 2015--
Financial Engines (NASDAQ: FNGN), America’s largest independent
registered investment advisor1, today announced that it will
incorporate the Social Security Administration’s newly
announced Social Security data file in the Financial
Engines Social Security planner. The data file program was announced
during today’s White House Conference on Aging.
The easily transferable data file contains the information found in
users’ Social Security benefit statements that can help users know how
much they can expect to receive in Social Security each month in
retirement. Financial Engines’ data integration with the Social Security
Administration will help users more accurately estimate their expected
Social Security benefit amount when planning for retirement.
Financial Engines introduced its Social
Security planner to the public at no charge in June, 2014. Since
then, it has identified more than $10 billion in additional Social
Security benefits for users, with the median amount of additional
benefits found for a typical married couple well over $100,0002.
The Social Security planner considers multiple strategies and provides
users with a personalized strategy that accounts for multiple income
sources and the realistic life expectancies of both spouses in a married
“We’re proud to be working closely with the Social Security
Administration to help Americans accurately plan for retirement,”
explained Kelly O’Donnell, executive vice president of Financial
Engines. “Social Security will be the largest retirement asset for many
Americans, with lifetime earned benefits dwarfing what they have saved
in their 401(k)s. Financial Engines helps Americans maximize their
Social Security benefits and make the most of their retirement savings
and investments to achieve a rewarding retirement.”
About the Financial Engines Social Security Planner and Income Plan
The Social Security planner enables users to consider different
strategies to get the most out of their Social Security benefits.
Employees with access to Financial Engines’ Social Security planner
through their employer can also generate a clear, personalized
retirement income plan, based on Financial Engines’ patented Income+
methodology. The comprehensive plan includes multiple income sources,
such as part-time work and pensions, and shows how retirement savings in
a 401(k) or IRA can be converted into income to help defer claiming
Social Security to maximize benefits.
About Financial Engines
Financial Engines is America’s largest independent investment advisor.
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 146 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 For independence methodology and ranking, see
InvestmentNews Center (http://data.investmentnes.com/ria/).
2 Financial Engines uses information about the individual and
his or her stated goals and applies our knowledge of the Social Security
system, among other factors, in providing its claiming guidance, as
further described in our white paper http://corp.financialengines.com/employers/FE_Social_Security_Methodology_0214.pdf.
Amount identified is based on unique users of our social security
claiming guidance since March 12, 2014. Estimates are not guarantees of
future benefit payments.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150713005659/en/
Source: Financial Engines
Mike Jurs, 408-498-6590
Gardell Kreuter, 646-428-0618