Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Products November 14, 2007
Financial Engines Adjusts Pricing for Managed Account QDIAs
Financial Engines has introduced a new pricing schedule for organizations choosing to default existing or new participants into managed accounts.
Reported by Rebecca Moore
According to a press release, under the new pricing schedule, Financial Engines waives the managed account fee for the first $5,000 in each participant’s account when plan sponsors select managed accounts as their defined contribution plan’s Qualified Default Investment Alternative (QDIA) with auto-enrollment into the plan. The first $5,000 of a participant’s plan balance will not be subject to a management fee for as long as the participant remains in the managed accounts service.
In addition to receiving professional portfolio management, participants in a managed account program receive regular personalized communications detailing how their portfolios are doing, and have ongoing access to an investment adviser, the release said. With additional information about a participant’s outside assets, Financial Engines is able to further tailor the management of the account to the participant’s needs.
More information is at www.financialengines.com.