Financial Engines
TD WATERHOUSE INSTITUTIONAL SERVICES FIRST TO MAKE FINANCIAL ENGINES' MONTE CARLO SIMULATION CAPABILITIES AVAILABLE TO REGISTERED INVESTMENT ADVISORS
Free Use of Wealth Management and Asset Allocation Tools for 2003
LOS ANGELES, Calif., February 6, 2003 – TD Waterhouse will offer Financial Engines Professional AdvisorTM service for financial advisors beginning in the second quarter of 2003, J. Thomas Bradley, Jr., President, TD Waterhouse Institutional Services, announced today at the company's 2003 national investment advisor conference, now underway in Los Angeles. The service will provide registered investment advisors with Financial Engines' powerful simulation and optimization capabilities and will be free to advisors for calendar year 2003.
"TD Waterhouse is delighted to be the first financial institution to offer Financial Engines professional advice tools through an advisor network," said Mr. Bradley. "This further demonstrates our long-term commitment to helping advisors deliver the most comprehensive and up-to-date service to their clients, especially in these challenging markets."
Financial Engines Monte Carlo simulation, which is currently being piloted as an integrated part of TD Waterhouse Institutional Service's online Veo platform, allows independent advisors to give clients a realistic view of how their investments might perform in the future and quickly create goal-oriented investment recommendations. The service was developed by Financial Engines, Inc., the company founded and chaired by Economics Nobel Laureate William F. Sharpe. The firm is a recognized leader in Monte Carlo simulation and has pioneered the broad use of this technique.
"TD Waterhouse has long embraced best of breed technology and continues to distinguish its offering for advisors by providing the best solutions for serving their clients," said Jeff Maggioncalda, President and CEO of Financial Engines. "Simulation provides advisors and their clients with a realistic view of future investment outcomes so that they can make more informed decisions to reach their goals."
Advisors can use the service to review a range of possible asset allocations and investment outcomes based on a client's goals and risk tolerance. Financial Engines can also generate customized asset allocations based on analysis of 12,000 mutual funds and 8,000 equities. The Professional Advisor service can also analyze a client's equity exposure by sector and industry. The service includes Monte Carlo simulation as well as tax-efficient investment optimization, to allow advisors to more effectively serve their clients. Professional Advisor users at TD Waterhouse also will have access to QuickSolve Solutions, advice modules that include an IRA Rollover QuickSolve to help clients with their rollover decisions, a New Money QuickSolve to help clients invest a lump sum of new money and a Rebalance QuickSolve to help advisors rebalance their clients' portfolios tax-efficiently.
Following a launch date in the second quarter of 2003, advisors will be able to use these tools to analyze assets held at TD Waterhouse. The service will be offered at no cost until the end of calendar year 2003, at which point the firm will announce pricing.
About TD Waterhouse Group, Inc.
TD Waterhouse Institutional Services provides comprehensive brokerage and other financial services to over 2,400 independent financial advisors and their clients. TD Waterhouse Institutional has serviced advisors for over 10 years, providing advisors and their clients with world-class service, cutting-edge technology and a comprehensive offering of products and services, all at a competitive price. TD Waterhouse Institutional Services is a division of TD Waterhouse Investor Services, Inc. (Member NYSE/SIPC), a subsidiary of TD Waterhouse Group, Inc. TD Waterhouse Institutional Services can be found on the Internet at www.tdwaterhouseinst.com.
TD Waterhouse provides investors and financial advisors with a broad range of brokerage, mutual fund, banking and other consumer financial products on an integrated basis. Worldwide, TD Waterhouse currently services 3.3 million active customer accounts. TD Waterhouse was ranked #1 among brokerage firms serving the do-it-yourself investor by SmartMoney magazine in their 2002 survey. SmartMoney is The Wall Street Journal's Magazine of Personal Business. TD Waterhouse placed first in the Investment Products category and has won top ranking in SmartMoney's survey of brokerage firms for self-directed investors in four of the last six years.
Approximately 600 investment advisors and industry experts are participating in Partnership 2003: Independence & Innovation in Action, the three-day annual national conference being held at the Westin Century Plaza Hotel & Spa. In addition to advisor workshops, the event features a world-class lineup of speakers, including Caspar Weinberger, former U.S. Secretary of Defense; Dr. Vernon Smith, 2002 Nobel prize winner for Economics; Dr. Jeffrey Garten, Dean of the Yale School of Management; and Arthur Laffer, creator of the Laffer Curve and Founder and Chairman of Laffer & Associates.
About Financial Engines
Financial Engines provides multi-channel advice technology and services to help financial institutions and employers address real-world investor needs. Financial Engines' services provide specific, actionable investment recommendations based on the outcomes an investor wants to achieve and can be delivered through the Internet, U.S. Mail, telephone, or face-to-face. More than 15 financial institutions and 900 plan sponsors have hired Financial Engines to make advice available to over 6.2 million individuals. Nobel Prize-winning economist William F. Sharpe founded the company with a revolutionary vision: to help financial institutions and employers make institutional-quality advice available to individual investors. For more information on Financial Engines, visit www.financialengines.com.
# # #
Financial Engines® is a registered trademark of Financial Engines.