Financial Engines
PEOPLE'S SECURITIES, INC. PILOTING THE FINANCIAL ENGINES PROFESSIONAL ADVISOR
Advisors Use Financial Engines' New QuickSolve Solutions to Deliver Event-Driven Investment Advice
PALO ALTO, Calif., September 3, 2003 – Financial Engines today announced that People's Securities, Inc., a subsidiary of People's Bank, the largest state-chartered bank in Connecticut, is piloting the Financial Engines Professional Advisor with a select number of its financial advisors. People's is the first financial institution to use the Financial Engines IRA, New Money and Rebalance QuickSolves, a targeted suite of solutions that enable advisors to provide fast proposals to meet their clients' event-driven advisory needs.
"Providing a broad scope of investment advisory services is key to reinforcing investors' perceptions about the high levels of service and expertise that People's provides," said Mike Harkins, First Vice President of People's Securities, Inc. "Financial Engines helps our investment representatives respond to the requests of new customers and proactively identify and solve the needs of existing clients."
People's top producers who serve 500 or more clients can use the Advisor Dashboard to manage their entire book of business from one page, monitoring and managing client portfolios on a day-to-day basis. Customers that may need to rebalance or who have large cash positions can be easily identified and contacted with targeted sales proposals. Advice alerts also help to notify advisors when client portfolios can be adjusted to improve the chance of reaching set goals. The Test Drive feature allows the Professional Advisor to be used collaboratively with clients. Together, the advisor and client can experiment with different recommendations and tailor individual portfolios based on personal knowledge and preferences. Financial advisors can use the Advice Highlights to provide clients with a clear, confident explanation of why certain recommendations are being made.
"Financial Engines is pleased to be working with People's Securities, Inc. to enable its financial advisors to more efficiently serve the investment advisory needs of both new and existing clients," said Jeff Maggioncalda, president and CEO of Financial Engines. "With Financial Engines, representatives can proactively identify sales opportunities, generate proposals that address specific client needs, handle a greater number of accounts and validate their own advice."
About People's Securities, Inc.
People's Securities, Inc., a NASD member brokerage firm and a wholly-owned subsidiary of People's Bank, offers a complete range of investment products, including stocks, bonds, options, money market funds and fixed- and variable-rate annuities, and asset management accounts. Founded in 1983, People's Securities is based in Bridgeport and staffs People's statewide network of 150 branches with licensed investment representatives. People's Securities also can be accessed through peoples.com.
People's Bank (Nasdaq: PBCT), headquartered in Bridgeport, is the largest state-chartered financial services company in Connecticut with managed assets of $14 billion. People's is a diversified financial services company providing commercial, consumer, insurance and investment services. It has 150 branches and 230 ATMs throughout the state and is accessible at www.peoples.com. People's is a leader in consumer and commercial banking, residential lending, insurance sales, supermarket banking and is the national's 15-largest issuer of MasterCard and Visa credit cards. People's subsidiaries offer brokerages services, asset management, equipment financing and leasing and insurance services.
About Financial Engines
Financial Engines provides advice technology and services 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 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.