SUNNYVALE, Calif.–(BUSINESS WIRE)–Feb. 15, 2018– Financial Engines, (NASDAQ: FNGN), America’s largest independent investment advisor (1), today announced it has significantly expanded its strategic relationship with global investment management organization T. Rowe Price to now offer Financial Engines’ full suite of advisory services and deliver an improved user experience to plan participants who have T. Rowe Price as their recordkeeper.
“As the demand for independent advisory services grows, we are excited to offer a best-in-class integration enabling us to deliver a broader set of services to participants and take our longstanding relationship to the next level,” said John Bunch, Executive Vice President and Chief Operating Officer at Financial Engines. “Together, we’re bringing high-quality, independent financial help and an elevated user experience to more of T. Rowe Price’s recordkeeping clients, allowing us to help more people reach their financial goals.”
Under the expanded agreement, Financial Engines can deliver its full suite of advisory services to T. Rowe Price plan sponsor clients. In addition to Online Advice and Professional Management, the expanded services now include:
- Personal Advisor —personalized professional management for all accounts (401(k), IRA and taxable accounts), comprehensive financial planning and a dedicated advisor, available by phone or in-person at 140+ advisor centers nationwide;
- Retirement income —including Income+, Financial Engines’ leading in-plan retirement income planning solution designed for 401(k) participants and Social Security claiming guidance through Financial Engines’ well-regarded Social Security Planner; and
- Financial Guidance and Wellness — education and digital content to complement programs offered by T. Rowe Price, including Financial Engines’ new college and healthcare expense planners.
With the enhanced relationship, Financial Engines can be the primary financial advisor to help employees beyond their retirement needs. Participants have access to Financial Engines’ non-commissioned Investment Advisor Representatives, either over the phone or in-person at one of the 140+ advisor centers nationwide. Additionally, T. Rowe Price and Financial Engines now have a stronger, integrated web experience that includes enhanced single-sign-on capabilities, seamless transaction capabilities, and dynamic, personalized web messaging.
The expanded relationship is already helping companies, such as KLM Royal Dutch Airlines, broaden the financial help and services available to their plan participants. “We believe a meaningful and valuable user experience for our employees drives greater engagement with advisory services, and ultimately helps them take concrete actions to improve their overall financial wellness,” said Tom Ruby, Deputy VP Human Resources, KLM Royal Dutch Airlines.
“T. Rowe Price is committed to providing excellence to our growing list of plan sponsor clients and to all of their plan participants,” said Andy Heiges, group manager for retirement income and advice for T. Rowe Price. “Our expanded relationship with Financial Engines strengthens the help we can deliver to our participants by combining independent, comprehensive advisory services, a powerful online client experience, and the personal attention of a dedicated advisor.”
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.
All advisory services provided by Financial Engines Advisors L.L.C. Financial Engines does not guarantee future results.
About T. Rowe Price
Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. is a global investment management organization with $1.05 trillion in assets under management as of January 31, 2018. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. T. Rowe Price’s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. For more information, visit troweprice.com or our Twitter, YouTube, LinkedIn, and Facebook sites.
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.investmentnews.com/ria/).
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Source: Financial Engines
Amy Conley, 617-556-2305