Financial Engines Now Serving More than 1 Million Managed Account Clients

Nation’s Largest Independent Registered Investment Advisor Now Managing More than $134 Billion in Assets in Managed Accounts

SUNNYVALE, Calif.--()--Financial Engines (NASDAQ:FNGN), America’s largest independent registered investment advisor,1 today announced that it is now serving more than a million managed account clients, both in and outside of the workplace. Since pioneering managed accounts in 2004, the company has steadily increased its client base to become the industry’s largest managed account provider. Financial Engines currently manages more than $124 billion2 in assets on behalf of clients in the workplace, more than all workplace managed account competitors combined.3

“Serving millions of people is especially gratifying because it means that we’re making a real difference in people’s lives”

Financial Engines delivers its investment advisory and financial planning services to more than 9 million people through more than 700 large employers and 125 Financial Engines Advisor Centers nationwide. In addition to its managed accounts clients, Financial Engines provides financial wellness, independent online advice and comprehensive financial planning services to millions more people. Leveraging a combination of technology and advisors, Financial Engines is able to reach investors who typically don’t have access to high-quality investment management. The average account balance of the company’s defined contribution clients is approximately $130,000.

“We are proud to be serving more than a million Americans, who have trusted Financial Engines to provide the objective, high-quality investment management they need to achieve their financial goals,” said Larry Raffone, president and CEO of Financial Engines. “We’ve served as a fiduciary on behalf of our clients from the beginning and are dedicated to putting their interests first. And the best part is that we’re just getting started. We’re providing clients with an even broader array of services and improved access to our independent advisors to help them attain greater financial security.”

In September, Financial Engines announced that it was expanding its services to offer comprehensive financial planning through the workplace, including the opportunity to work with a dedicated financial advisor. With the new services, the company is now uniquely positioned to help clients with their entire financial picture, including their 401(k), IRA and taxable assets, and comprehensive financial planning and wellness -- all with the help of dedicated advisors throughout its network of local advisor centers.

“Serving millions of people is especially gratifying because it means that we’re making a real difference in people’s lives,” explained Raffone. “We remain committed to listening to our clients, working hard on their behalf and helping each of them work toward achieving their financial goals.”

About Financial Engines

Financial Engines is America’s largest independent investment advisor. We help people achieve greater financial clarity by providing comprehensive financial planning and professional investment management and advice. Headquartered in Sunnyvale, CA, Financial Engines was co-founded in 1996 by Nobel Prize-winning economist William F. Sharpe. We currently offer financial help to more than nine million people across over 700 companies (including 147 of the Fortune 500). Our unique approach, combined with powerful online services, dedicated advisors and personal attention, promotes greater financial wellness and helps more Americans to meet their financial goals.

For more information, please visit www.financialengines.com.

All advisory services provided by our investment advisory subsidiaries, including Financial Engines Advisors L.L.C., Financial Engines Advisor Center, LLC, and registered investment advisors known as The Mutual Fund Store. Financial Engines does not guarantee future results.

Forward-Looking Statements

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 RIA Data Center. (http://data.investmentnews.com/ria/).

2 Total assets under management is $134.4 billion, including accounts outside of the workplace.

3 Q3 2016 Cerulli Edge, Issue #40, Retirement Edition.

Contacts

Press:
Financial Engines
Mike Jurs, 408-498-6590
mjurs@financialengines.com
or
Allison+Partners
Alexandra Gardell Kreuter, 646-428-0618
financialengines@allisonpr.com

Recent Stories

RSS feed for Financial Engines

Financial Engines