Financial Engines
MERCER HR SERVICES AND FINANCIAL ENGINES EXPAND ALLIANCE TO PROVIDE PROFESSIONALLY MANAGED ACCOUNTS TO PARTICIPANTS
NORWOOD, Mass. And PALO ALTO, Calif., September 5, 2007 – Mercer HR Services and Financial Engines, Inc. today announced an expanded alliance to provide Financial Engines’ full suite of advisory services to Mercer HR Services’ clients. In addition to online investment advice, services provided through the expanded alliance include individual retirement assessments and professionally managed accounts for the employees of Mercer’s client companies.
Employees are increasingly reliant on defined contribution plans as their primary source of retirement income, and access to personalized investment advice is an important component as part of a retirement savings strategy. Financial Engines introduced its managed accounts program in September 2004 to help employees who would rather delegate management of their 401(k) plan account to an independent professional. With $11.5 billion in assets under management within managed accounts as of June 30, 2007, the company works with leading 401(k) plan recordkeepers, such as Mercer HR Services, to make its integrated suite of advisory services widely available.
"Mercer HR Services has long believed that providing participants with independent advice and support is important in helping employees prepare for retirement with confidence," explained Eric Levy, Retirement Business Leader for Mercer HR Services and Division Head of Mercer Securities. "This alliance gives our clients the ability to offer a comprehensive range of advisory services to accommodate the diverse needs of employees, and expands the already extensive range of retirement education and planning resources Mercer offers."
"We’re excited about this expanded relationship with Mercer HR Services because it will enable more employers to provide advice and managed accounts to participants, helping those who need it most," said Larry Raffone, Executive Vice President of Sales and Client Services at Financial Engines. "Mercer HR Services and Financial Engines are committed to independence and share a common goal of getting participants the assistance they need. This expanded alliance recognized the diverse needs of participants and will help meet the strong demand we’re currently experiencing for our services."
The complete suite of Financial Engines’ advisory services is currently available to Mercer HR Services clients.
About Mercer HR Services
Mercer HR Services employs 4,100 professionals in major international service centers located in Melbourne, Australia; Toronto, Canada; Dublin, Ireland; and London, England. In addition, 1,600 professionals work in four major US service centers located in Norwood, Mass.; Dallas and Houston, Tex.; and Deerfield, Ill. Mercer HR Services offers one of the most flexible and comprehensive HR services platforms available and provides complete outsourcing solutions for retirement plan administration and program management, health and benefits administration, absence management, and business process outsourcing for HR services.
Mercer Human Resource Consulting is a global leader for HR and related financial advice and services, with more than 15,000 employees serving clients in over 180 cities and 42 countries and territories worldwide. The company is a wholly owned subsidiary of Marsh & McLennan Companies, Inc., which lists its stock (ticker symbol: MMC) on the New York, Chicago, and London stock exchanges. For more information, visit mercerHR.com.
Securities offered through Mercer Securities, a division of MMC Securities Corp. a U.S. registered broker-dealer and Member FINRA/SIPC. Mercer HR Services, Mercer Securities, and MMC Securities Corp. are affiliates of and owned by Marsh & McLennan Companies.
About Financial Engines
Financial Engines is a new breed of investment advisor providing personalized investment advice and portfolio management to 401(k) participants. Founded by Nobel Prize-winning economist, William F. Sharpe, Financial Engines serves millions of employees at many of America's largest corporations. Patented advice technology and institutional-quality investment methodology allow Financial Engines to offer an array of advisory services to meet the needs of a wide range of investors. For more information, please visit www.financialengines.com.