New College Expense and Retirement Healthcare Expense Planners
Provide Individuals with Unbiased, Activity-Based Financial Planning Help
SUNNYVALE, Calif.--(BUSINESS WIRE)--Oct. 9, 2017--
Financial Engines (NASDAQ: FNGN), America’s largest independent
investment advisor,1 today announced two new digital planners
that are now available to millions of 401(k) participants through plan
sponsors that offer Financial Engines’ advisory services directly to
their employees. The planners, which include a College Expense Planner
and a Retirement Healthcare Expense Planner, provide unbiased assistance
to employees who are saving for their children’s college educations or
planning for healthcare costs in retirement. Like Financial Engines’
retirement-oriented planning solutions, the new planners use rigorous,
empirical forecasting methodologies that set them apart in the
industry—providing more accurate and actionable information to employees.
The Financial Engines College Expense Planner helps users come up
with a saving and investing strategy to pay for college. It enables
people to estimate how much they will need to save for their children’s
college expenses and gives them a sense of where they stand today in
relation to their savings targets. The planner incorporates third-party
tuition cost growth estimates for public and private colleges and a
variety of portfolio forecasting options to estimate the savings users
could have when their children are ready for college.
With healthcare expenses one of the biggest concerns of those
approaching retirement, the Financial Engines Retirement Healthcare
Expense Planner enables users to estimate what they might need to
pay for Medicare premiums and out-of-pocket healthcare expenses once
they stop working. The planner leverages Financial Engines’ partnership
with HealthView, the leading provider of healthcare cost-projection
software. With the planner, users receive a location-specific estimate
for how much they can expect to pay for healthcare services in
retirement. That estimate can then be integrated into their overall
retirement income goal.
“Our new digital planners address key areas where people need help
navigating unfamiliar systems, so they can develop smart saving and
investment strategies,” explained Karen White, vice president of
consumer products at Financial Engines. “By offering accessible,
easy-to-use tools on topics that cause a lot of stress and uncertainty,
we’re inviting more people into the financial planning conversation and
are helping them connect the choices they make today with the options
they’ll have tomorrow.”
The launch of the planners is a part of Financial Engines’ continued
commitment to deliver holistic financial wellness solutions through
digital tools, multi-channel communications and advisor interactions.
“These two new digital planners represent a reimagining of how we can
help 401(k) participants achieve their goals,” explained White.
“Building on many years of success driving better retirement outcomes,
we’re developing additional innovative digital tools to provide
personalized help with the big and small financial challenges that can
sometimes eclipse long-term planning. By engaging people throughout
their journey, we can help them balance the now with the next,
empowering them to make choices with confidence.”
For more information about Financial Engines’ new digital financial
planners or to schedule a demo, plan sponsors should contact their
Financial Engines Relationship Manager, e-mail workingwithus@FinancialEngines.com
or call +1-602-553-7142.
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 deliver professional financial help to more than
nine million employees nationwide.
For more information, visit www.financialengines.com.
All advisory services provided by Financial Engines Advisors L.L.C.
Financial Engines does not guarantee future results.
1 For independence methodology and ranking, see
InvestmentNews RIA Data Center. (http://data.investmentnews.com/ria/).
View source version on businesswire.com: http://www.businesswire.com/news/home/20171009005202/en/
Source: Financial Engines
Mike Jurs, 408-498-6590
Gardell Kreuter, 646-428-0618