Financial Engines
FINANCIAL ENGINES FOUNDER WILLIAM F. SHARPE TO PARTICIPATE IN PRESIDENT'S ECONOMIC FORUM
Economics Nobel Laureate to Highlight Investment Forecasting and Advisory Services Offered Through the Workplace as Crucial to Retirement Security
PALO ALTO, Calif., August 13, 2002 – Financial Engines, Inc. announced that its founder and chairman, William F. Sharpe, will participate today in the President's Economic Forum, hosted by President George W. Bush at Baylor University in Waco, TX. Sharpe will serve as a panelist in the session on Small Investor & Retirement Security, chaired by R. Glenn Hubbard, chairman of the President's Council of Economic Advisers.
Sharpe has been outspoken about his concern that the responsibility for making complex investment decisions has largely shifted to the individual but the expertise needed to make informed decisions has not. Sharpe will stress that Americans need help to invest responsibly and successfully for their retirement security. Individuals need to have a realistic view of how much income they might have in their retirement years and whether their current investment strategy will help them reach their goals.
"The best place to reach large numbers of people is the workplace, where we have encouraged saving for retirement as a matter of social policy," said Sharpe. "Employers need to make good savings vehicles available, encourage workers to use them, and help workers make informed decisions about how to invest to reach their goals."
Advances in technology have made the democratization of financial advice a reality. Financial Engines offers scalable forecasting and advice technology based on proven institutional investment principles to millions of employees at a fraction of the cost. Over 800 companies make Financial Engines' investment advice available to more than 3 million individuals to help them save and invest for retirement.
"Public policy should strongly support employers in their endeavors to help employees invest wisely for retirement. Companies today are faced with helping their employees manage their investment risk while also managing their own fiduciary risk. Offering employees impartial investment advice is a effective way to do both," concluded Sharpe.
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.
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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.