Nation’s Largest Independent Registered Investment Advisor Now
Managing More than $134 Billion in Assets in Managed Accounts
SUNNYVALE, Calif.--(BUSINESS WIRE)--Nov. 3, 2016--
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
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
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.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161103006424/en/
Source: Financial Engines
Mike Jurs, 408-498-6590
Gardell Kreuter, 646-428-0618