Financial Engines
ONLINE INVESTMENT ADVICE NOW AVAILABLE FOR NESTLÉ USA EMPLOYEES THROUGH FINANCIAL ENGINES®
PALO ALTO, Calif., May 8, 2001 – Financial Engines will provide online investment education and advice services for Nestlé USA following its selection by the Glendale - based food and beverage company to assist 17,000 eligible employees in making sound financial plans for retirement.
"We are committed to helping our employees as they plan to meet their financial goals, particularly the important issue of retirement," said Manfred Lehmann, Vice President, Strategic Planning and Treasurer, Nestlé USA. "We chose Financial Engines because of its expertise in educating and advising on a variety of investment accounts, incorporating information about the company retirement savings plans with other personal asset data and clearly illustrating investment risk and return trade-offs."
Nestlé realizes that employees may want help in planning for retirement. In fact, 92 percent of corporate plan sponsors believe that their employees are not properly prepared to make informed retirement decisions, according to a survey by Financial Engines and Eager Manager Advisory Services (August, 2000).
"Nestlé understands that the value of a benefits package extends beyond a paycheck," said Brian Samuels, Vice President of Workplace Advisory Services for Financial Engines. "By offering Financial Engines advice to its employees, Nestlé is providing them - and their families - with the opportunity to build a more secure financial future."
Working with Hewitt Associates, Nestlé's 401(k) service provider, Financial Engines receives participant account data daily, ensuring participants have access to their current account information. The Financial Engines Investment Advisor® service illustrates the likelihood of reaching retirement goals based upon each employee's personal information. By analyzing the entire household portfolio, the Advisor service will estimate how much income an employee may have at retirement and make specific recommendations to improve the employee's chances of meeting retirement income goals.
About Nestlé USA
For well over a century, Nestlé has been making the very best food and beverage products for families around the world. In the U.S., Nestlé's well-known brands include: Nestlé® Toll House®, Nestlé® NesquikTM, Nestlé® Carnation® Coffee-mate®, Stouffer's®, Stouffer's® Lean Cuisine®, Nescafé®, Libby's® Juicy Juice®, Buitoni®, Taster's Choice®, Ortega®, PowerBar®, Nestlé® Crunch®, Nestlé® Butterfinger®, Wonka®, Friskies® Fancy Feast®, ALPO®, and Mighty Dog®. Headquartered in Glendale, Calif., Nestlé USA has 17,000 employees, $8 billion in sales and is part of Swiss-based estlé S.A. - the world's largest food company. Visit Nestlé at www.nestleusa.com.
About Financial Engines
Financial Engines is a leading provider of investment advice services to the workplace and to financial institutions. Financial Engines enables employers, financial professionals and financial organizations such as fund companies, brokerages and banks to offer consistent, high-quality, personalized investment advice on a cross-enterprise basis. Founded by Economics Nobel Laureate William F. Sharpe, Financial Engines works with its customers to help their clients 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, and Financial Engines Investment Advisor® is a service mark 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.