Financial Engines
METLIFE RESOURCESSM OFFERS ACCESS TO ONLINE INVESTMENT ADVICE THROUGH FINANCIAL ENGINES®
MetLife Resources a Pioneer in Service to Not-for-Profits
PALO ALTO, Calif..--(BUSINESS WIRE)--, January 16, 2001 – MetLife Resources, a division of Metropolitan Life Insurance Company, and Financial Engines, Inc. announced today that Financial Engines' investment advisory service is available to 403(b), 401(a) and 401(k) plan participants in the healthcare, education and not-for-profit markets through MetLife Resources. As an industry leader, MetLife Resources is among the first to offer access to online investment advice to not-for-profit clients.
Financial Engines gives personalized advice on tax-deferred retirement accounts - including 401(a), 401(k), 403(b), 457, IRA, Roth IRA, SEP-IRA, and Keogh accounts. Financial Engines has built a service that has the scope and capability to look at the total household portfolio and give investment advice on specific investment options on multiple accounts simultaneously.
"Recent survey data indicate a strong preference by organizations for online investment advice as an integral part of employer benefits packages. At MetLife Resources, we want to provide our clients with retirement plans designed to address their employees' current and future needs," said Stephen Foster, national marketing director and head of institutional sales for MetLife Resources.
"As a premier online advice provider, Financial Engines is capable of providing top-quality investment advice to the 403(b) market. In keeping with our corporate vision to build financial freedom for everyone, we are proud to be among the first providers to make the Advisor service available to our not-for-profit clients," Mr. Foster added.
"We want to provide institutional quality advice to those who need it most and are excited to be working with MetLife, a recognized leader in the retirement plan marketplace," said Zachary MacRunnels, director of business development for Financial Engines. "We are committed to providing advice across all retirement savings plans and are happy to extend our services to not-for-profit organizations and their employees."
By making Financial Engines' services available to its not-for-profit customers, MetLife Resources is enabling plan participants to monitor their investments, access information about the likelihood of reaching their financial goals for retirement and find out how much retirement income they are likely to have. Financial Engines then makes specific investment recommendations, showing how the recommendations could impact future retirement outcomes, and provides customized action plans to participants.
A recent Financial Engines survey of human resource and/or financial managers from more than 1,000 organizations found that nearly one-half of the plan sponsors surveyed - 48 percent - feel so strongly about the benefits of offering investment advice that they believe it should be positioned as part of an organization's general benefits program.
About MetLife Resources
MetLife Resources is the division of MetLife that specializes in providing retirement products and services suited to the unique needs of health care, educational and other nonprofit institutions. MetLife has been in the financial services industry providing employees with retirement plans for decades and currently provides services to 86 of Fortune's top 100 companies. A long-time innovator in the not-for-profit retirement plan market, MetLife Resources is proud to be among the first 403(b) program providers to offer retirement plan participants access to online financial planning information and advice.
Metropolitan Life Insurance Company, a subsidiary of MetLife, Inc. (NYSE:MET), is a leading provider of insurance and other financial services to individual and group customers. The MetLife companies serve approximately nine million individual households in the U.S. and companies and institutions with 33 million employees and members. MetLife also has international insurance operations in 12 countries. For more information about MetLife, please visit the company's Web site at www.metlife.com.
About Financial Engines
Financial Engines offers its wealth management platform to help corporations and financial institutions offer consistent personal advisory services to individual investors through the web, phone, and face-to-face. Financial Engines combines the power of the Internet with an investment methodology used by pension fund managers and based on scientific research to make high quality advice available to all investors. Founded by Economics Nobel Laureate William F. Sharpe, Financial Engines is dedicated to helping individuals make better investment decisions to meet their financial goals. Financial Engines was founded in 1996 and is located in Palo Alto, Calif. For more information, visit Financial Engines' web site at www.financialengines.com.
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Financial Engines® is a registered trademark of Financial Engines, Inc. All other trademarks and service marks are the property of their respective owners. All advisory services are provided by Financial Engines Advisors LLC, a federally registered investment advisor.
MetLife ResourcesSM is a division of Metropolitan Life Insurance Company, New York, New York.