Financial Engines® and ADP® Form Strategic Relationship
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Relationship Brings Scalable, Independent Advisory Service Model to the Small and Mid-Size Retirement Plan Market

SUNNYVALE, Calif.--(BUSINESS WIRE)--Feb. 6, 2018-- Financial Engines® (NASDAQ: FNGN), America’s largest independent investment advisor,1 and ADP® (NASDAQ: ADP), today announced a new strategic relationship to offer Financial Engines’ independent and comprehensive advisory services to employers of all sizes. Under the relationship agreement, ADP will make available to its Retirement Services clients the option to engage with Financial Engines and its full suite of investment advisory services.

The Financial Engines advisory service offering, on the ADP platform, will launch in the summer of 2018. It will broaden ADP’s financial wellness capabilities that aim to help 401(k) participants better prepare for day-to-day expenses and for broader financial challenges.

The new relationship will bring Financial Engines’ full suite of advisory services to ADP retirement plan clients for the first time. Financial Engines can bring to the client experience best practices in engaging employees and driving strong retirement plan utilization with the goal of improving financial outcomes for employees. Financial Engines’ direct advisory services for participants include:

  • Online Advice - personalized online savings and investment advice and retirement income services for employees who want to manage their retirement themselves
  • Professional Management - a discretionary personalized management service for participants who want to partner with and delegate the management of their retirement accounts to a professional
  • Income planning and Social Security claiming guidance – advice provided through Financial Engines’ nationally recognized Social Security Planner
  • Personal Advisor – personalized professional management for all participant accounts (401(k), IRA and taxable accounts), comprehensive financial planning, and a dedicated advisor

These services combined with the ADP financial wellness program may help employees more confidently manage their financial decisions and encourage employees to use best practices to better meet their retirement goals. In addition, participants will have access to Financial Engines’ non-commission based Investment Advisor Representatives, as well as to independent online investment advice, and to ongoing financial wellness programs and education.

“We’re very excited about this strategic relationship with ADP Retirement Services because it aligns with our mission. It allows us to expand our ability to deliver financial help through the workplace and introduce directly a suite of financial wellness capabilities—including advisory services—to millions of employees,” said John Bunch, Executive Vice President and Chief Operating Officer at Financial Engines. “This relationship enables us to provide unbiased financial help to employees who work for businesses of all sizes, and who may not have had access to Financial Engines’ market-leading, unconflicted services in the past. It also enables us to build deeper relationships, especially through our Personal Advisor service.”

“ADP is excited to collaborate with Financial Engines to deliver to participants the value of its more than 20 years of experience providing personalized advice to participants,” said Chris Luongo, Vice President Product Marketing & Business Development, ADP Retirement Services. “ADP and Financial Engines share the goal to leverage technology to improve participants’ experiences. This underscores ADP’s commitment to financial wellness and gives employees sound financial resources so they can be confident in their retirement planning and savings decisions.”

About Financial Engines

With roots in Silicon Valley, Financial Engines is the nation’s largest independent investment advisor. We believe that all Americans -- not just the wealthy -- should have access to high-quality, unbiased financial help and our client’s best interests should always come first. Today, more than 700 of the nation’s most respected employers trust Financial Engines to offer professional financial help to more than nine million employees nationwide.

For more information, visit www.financialengines.com.

Financial Engines does not guarantee future results. All advisory services are provided by Financial Engines Advisors L.L.C.

About ADP (NASDAQ: ADP)

Powerful technology plus a human touch. Companies of all types and sizes around the world rely on ADP cloud software and expert insights to help unlock the potential of their people. HR. Talent. Benefits. Payroll. Compliance. Working together to build a better workforce. For more information, visit ADP.com.

ADP is a registered trademark of ADP, LLC. All other marks are the property of their respective owners.

1 For independence methodology and ranking, see InvestmentNews® RIA Data Center. (http://data.investmentnews.com/ria/).

Source: Financial Engines

Financial Engines
Amy Conley, 617-556-2305
aconley@financialengines.com
or
Allison+Partners
Alexandra Gardell Kreuter, 646-428-0618
financialengines@allisonpr.com
or
ADP, LLC
Kate Rankin, 201-452-1803
Kate.rankin@adp.com