SUNNYVALE, Calif.–(BUSINESS WIRE)–May. 8, 2013– Financial Engines (NASDAQ:FNGN), America’s largest independent registered investment advisor, today announced it is expanding its services to include management of Individual Retirement Accounts (IRAs). IRA management includes access to Financial Engines’ retirement income feature, Income+. The company is now managing IRA assets for 401(k) participants from select sponsors on multiple custodial platforms.

The expansion comes as demand for Income+, the first retirement income solution designed specifically for 401(k) plans, remains strong. Over 70 plan sponsors have signed contracts as of March 31, 2013, representing over $126 billion in assets and over 1.4 million participants.

“Americans entering retirement today, especially those with modest assets, are on their own to manage unprecedented complexity and uncertainty,” said  Jeff Maggioncalda , CEO of Financial Engines. “There is an urgent need for unbiased help and management that puts together all retirement accounts and sources of income to make the most of what people have saved. By offering IRA management, we are another step closer to this vision.”

Since its inception, Financial Engines’ mission has been to provide high-quality, independent help across an investor’s total retirement picture regardless of account balance or where the account is held. In 2001, Financial Engines expanded its 401(k) investment advice offering to include advice on accounts outside the 401(k), including IRAs. In 2004, the company introduced a 401(k) discretionary account management program, which was expanded in 2011 to include Income+.

Amid unprecedented forces reshaping today’s retirement, participants are asking for more help with retirement decisions that go beyond the 401(k), including help with management of IRA accounts. Today’s announcement answers that call.

Financial Engines has extended its innovative Income+ methodology to IRAs so that retirees looking to generate income from an IRA can receive steady monthly payouts based on their household’s changing needs. This enhancement also makes management and Income+ portable for participants who want continued help if they decide to roll out of their 401(k) plan or take a pension lump sum distribution.

Independence is more important than ever. The Government Accountability Office (GAO) recently issued a report highly critical of 401(k) rollover practices.1 The GAO found that participants are subjected to pervasive marketing of IRAs, in many cases from their plan service provider steering participants towards the purchase of their own retail products and services. Financial Engines doesn’t sell investments and is free from the product conflicts or the perception of conflicts of interest that can arise for firms that sell products.

Financial Engines continues to extend its model of offering investment advice and management free of product conflict. Broader IRA advice and management leverages Financial Engines’ institutional-quality methodology and is delivered through an open architecture framework so participants do not need to move their accounts. Current custody platforms include Charles Schwab and TD Ameritrade.

About Financial Engines, Inc.

Financial Engines is the nation’s largest independent investment advisor and is 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, investment, and retirement income. Co-founded 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, visit

Financial Engines® and Retirement Help for Life® are registered trademarks or service marks of Financial Engines, Inc. 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.

1 “401(k) Plans: Labor and IRS Could Improve the Rollover Process for Participants”, Government Accountability Office, March 2013.


Source: Financial Engines

Financial Engines
Diane Paul, 408-498-6797
H+K Strategies
Carley Hummel, 714-913-9942