Relationship Brings Scalable, Independent Advisory Service Model
to the Small and Mid-Size Retirement Plan Market
SUNNYVALE, Calif.--(BUSINESS WIRE)--Feb. 6, 2018--
Financial Engines® (NASDAQ: FNGN), America’s largest
independent investment advisor,1 and ADP® (NASDAQ:
ADP), today announced a new strategic relationship to offer Financial
Engines’ independent and comprehensive advisory services to employers of
all sizes. Under the relationship agreement, ADP will make available to
its Retirement Services clients the option to engage with Financial
Engines and its full suite of investment advisory services.
The Financial Engines advisory service offering, on the ADP platform,
will launch in the summer of 2018. It will broaden ADP’s financial
wellness capabilities that aim to help 401(k) participants better
prepare for day-to-day expenses and for broader financial challenges.
The new relationship will bring Financial Engines’ full suite of
advisory services to ADP retirement plan clients for the first time.
Financial Engines can bring to the client experience best practices in
engaging employees and driving strong retirement plan utilization with
the goal of improving financial outcomes for employees. Financial
Engines’ direct advisory services for participants include:
Online Advice - personalized online savings and investment
advice and retirement income services for employees who want to manage
their retirement themselves
Professional Management - a discretionary personalized
management service for participants who want to partner with and
delegate the management of their retirement accounts to a professional
Income planning and Social Security claiming guidance – advice
provided through Financial Engines’ nationally recognized Social
Personal Advisor – personalized professional management for all
participant accounts (401(k), IRA and taxable accounts), comprehensive
financial planning, and a dedicated advisor
These services combined with the ADP financial wellness program may help
employees more confidently manage their financial decisions and
encourage employees to use best practices to better meet their
retirement goals. In addition, participants will have access to
Financial Engines’ non-commission based Investment Advisor
Representatives, as well as to independent online investment advice, and
to ongoing financial wellness programs and education.
“We’re very excited about this strategic relationship with ADP
Retirement Services because it aligns with our mission. It allows us to
expand our ability to deliver financial help through the workplace and
introduce directly a suite of financial wellness capabilities—including
advisory services—to millions of employees,” said John Bunch, Executive
Vice President and Chief Operating Officer at Financial Engines. “This
relationship enables us to provide unbiased financial help to employees
who work for businesses of all sizes, and who may not have had access to
Financial Engines’ market-leading, unconflicted services in the past. It
also enables us to build deeper relationships, especially through our
Personal Advisor service.”
“ADP is excited to collaborate with Financial Engines to deliver to
participants the value of its more than 20 years of experience providing
personalized advice to participants,” said Chris Luongo, Vice President
Product Marketing & Business Development, ADP Retirement Services. “ADP
and Financial Engines share the goal to leverage technology to improve
participants’ experiences. This underscores ADP’s commitment to
financial wellness and gives employees sound financial resources so they
can be confident in their retirement planning and savings decisions.”
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.
For more information, visit www.financialengines.com.
Financial Engines does not guarantee future results. All advisory
services are provided by Financial Engines Advisors L.L.C.
About ADP (NASDAQ: ADP)
Powerful technology plus a human touch. Companies of all types and sizes
around the world rely on ADP cloud software and expert insights to help
unlock the potential of their people. HR. Talent. Benefits. Payroll.
Compliance. Working together to build a better workforce. For more
information, visit ADP.com.
ADP is a registered trademark of ADP, LLC. All other marks are
the property of their respective owners.
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/20180206005253/en/
Source: Financial Engines
Amy Conley, 617-556-2305
Gardell Kreuter, 646-428-0618
Kate Rankin, 201-452-1803