Financial Engines
MORE OF AMERICA'S LARGEST COMPANIES OFFERING FINANCIAL ENGINES' 401(K) ADVICE TO EMPLOYEES
More of America's Largest Companies Offering Financial Engines' 401(k) Advice to Employees
PALO ALTO, Calif., August 13, 2002 – Financial Engines, Inc. today announced that it has added a number of new blue chip companies - Aetna, KPMG Consulting, Inc., Kraft Foods Inc., McDonald's Corporation, Occidental Petroleum, and Altria Companies Inc. - to its client roster.
As of June 30, 2002, the company had signed over 800 plan sponsors representing more than 3.0 million employees. The move by leading companies to offer Financial Engines to employees demonstrates the growing importance of offering employees personalized advice to help them save and invest wisely for retirement.
"The investment advice drum beat is getting louder as more employers offer investment advice to help employees make informed decisions," said Jeff Maggioncalda, president and CEO of Financial Engines. "Financial Engines offers employers an unbiased investment advice solution that helps employees understand investment risk, diversify their retirement savings, and increase the likelihood that they will reach their goals."
The Financial Engines service creates a realistic forecast of what an employee's investments might be worth based on their specific 401(k) holdings including company stock, all investments held outside of their 401(k) plan, their annual contribution rate, and their desired retirement age. The service then helps them set a goal and provides personalized recommendations of which specific investments they should buy and sell to improve the chance of reaching their goal.
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 over 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.
# # #
Financial Engines® is a registered trademark of Financial Engines. All advisory services are provided by Financial Engines Advisors LLC, a federally registered investment adviser.