Profile: Financial Engines Inc (FNGN.OQ)
26 May 2017
Financial Engines, Inc., incorporated on March 17, 2008, is a provider of independent, technology-enabled financial advisory services, discretionary portfolio management, personalized investment advice, financial and retirement income planning, and financial education and guidance. The Company offers personalized plans for saving, investing, and generating retirement income, as well as by providing assessments of retirement income needs and readiness. The Company's advice and planning services cover employer-sponsored defined contribution (DC) accounts (401(k), 457, and 403(b) plans), individual retirement account (IRA) accounts, and taxable accounts.
For individuals, the Company provides discretionary portfolio management, personalized investment advice, financial and retirement income planning, financial education and guidance. The Company maintains two types of relationships with individuals: DC plan participants in the workplace and Individuals outside the workplace. For DC plan sponsors, the Company is engaged in evaluating, disclosing and addressing investment and savings decisions by plan participants both before and after retirement. As of December 31, 2016, its services were available to 708 plan sponsors.
The Company offers planning services, including education and guidance, portfolio management, investment advice and retirement income services. The Company's services are available online and through advisors, both in person and over the phone. Financial Engines advisory services available to clients include discretionary portfolio management, online advice, income planning and financial wellness. The Company's Professional Management service provides discretionary portfolio management service for individuals in the workplace. The service provides retirement account management and retirement income services from an independent investment advisor without the conflicts of interest that can arise when an advisor offers products. The Company's Personal Advisor service offers discretionary portfolio management for 401(k), IRA and taxable accounts for both DC plan participants and individuals outside the workplace. The Company's Online Advice service is an Internet-based investment advisory service.
The enrolled participants in the Company's Professional Management service receive a Retirement Plan, which sets out investment allocation and savings actions recommended to achieve a targeted retirement income. The Company provides retirement income solutions as features of its discretionary portfolio management services, to provide clients approaching or in retirement with discretionary portfolio management with an income objective and steady monthly payments during retirement from their accounts and from other sources of retirement income, such as Social Security. Social Security claiming guidance is available online and through registered Investment Advisor Representatives, as well as for its clients outside the workplace.
The Company provides a range of financial education and guidance delivered through multiple channels, including on-site events, online content and phone-based advisors. The Company provides educational content and guidance on a range of financial wellness-related topics. The Company sends each eligible plan participant a Retirement Evaluation or similar retirement readiness assessment upon rollout or periodically thereafter, together with the Professional Management service enrollment materials.
The Company competes with Morningstar, GuidedChoice, ProManage, LLC, Fidelity, Bank of America Merrill Lynch, Charles Schwab & Co., Inc., Edward Jones, MetLife, New York Life, Edelman Financial Services, Creative Planning, Personal Capital, Fisher Investments, Wealthfront, Betterment, T. Rowe Price, Principal Funds, Wells Fargo Advantage, J.P. Morgan, Voya, Empower Retirement Funds, Prudential, AllianceBernstein, Charles Schwab, Morgan Stanley Smith Barney and Edward Jones.
Financial Engines Inc
1050 Enterprise Way Fl 3
SUNNYVALE CA 94089-1411