Financial Engines
LEADING GLOBAL LAW FIRM HIRES FINANCIAL ENGINES® TO PROVIDE PERSONALIZED INVESTMENT ADVICE TO PARTNERS AND EMPLOYEES
Law Firm Sees Advice Technology as a Prudent and Legal Way to Assist Partners and Employees with Investment Decisions
PALO ALTO, Calif., July 22, 2002 – Financial Engines, Inc. today announced that leading global law firm Baker & McKenzie has selected Financial Engines Direct Access service to assist its 1,200 U.S. based attorneys and employees with their investment decisions. Baker & McKenzie joins a growing list of law firms offering Financial Engines Direct Access service. Vinson & Elkins LLP, Willkie Farr & Gallagher and Morrison & Foerster LLP make Financial Engines available to a combined 4,500 U.S. based partners and employees.
Law firms are increasingly turning to advice technology as a prudent and legal way to assist individuals with decisions about how to invest to reach their goals. Financial Engines presents an unbiased, outcomes-based investing framework that appeals to a broad demographic range of investors with different levels of financial planning knowledge.
"Employers need to make sure their employees have realistic expectations about their retirement and understand the risks they are taking," said Ed Burmeister, partner and chairman of the 401(k) and pension committee for Baker & McKenzie. "Financial Engines helps employees realize if they are making mistakes and suggests what they can do to improve their retirement security."
Financial Engines' service is simple. Once employees sign on, their personal investment holdings can be loaded automatically from their 401(k) record-keeper. The service then creates thousands of possible investments scenarios and shows the estimated future value of these investments if markets perform well, average, or poorly. Finally, the service makes specific recommendations of which funds to buy and sell and how much to save to improve their chance of reaching their retirement goal.
"We are delighted that Baker & McKenzie has selected Financial Engines as its advice provider," said Jeff Maggioncalda, president and CEO of Financial Engines. "Helping to ensure the financial futures of employees has become a front and center issue and smart companies are increasingly offering investment advice to make sure their employees have every opportunity to become well informed and invest wisely."
About Financial Engines
Financial Engines provides advice technology to help financial institutions and employers solve real-world investor problems for their clients and employees. Financial Engines' services provide specific, actionable investment recommendations based on the outcomes an investor wants to achieve and can be delivered through the web, phone, or face-to-face. More than 15 financial institutions and 800 plan sponsors have hired Financial Engines to make advice available to nearly 3.0 million individuals. Nobel Prize winning economist William F. Sharpe founded the company with a revolutionary vision: to make institutional-quality advice available to financial institutions and employers that serve individual investors. For more information on Financial Engines, visit www.financialengines.com.
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Financial Engines® is a registered trademark of Financial Engines. All advisory services are provided by Financial Engines Advisors LLC, a federally registered investment adviser.