Alcoa Rolls out Financial Engines' Managed Account Program to 42,000 Employees; Managed Accounts and Investment Advice Powered by Financial Engines Meet Employee Demand for 401(k) Savings Plan Help.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif. -- Financial Engines, Inc. announced today that 42,000 Alcoa employees now have the Financial Engines Personal Asset Manager program available to them. Alcoa employees who would rather have a professional manage their 401(k) Savings Plan accounts for them can sign up for the Personal Asset Manager program by phone, mail or online. After surveying Savings Plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. in 2003, Alcoa found that 98 percent wanted more help investing for retirement and nine out of ten felt an outside advisor would be the most trusted source for this information. Alcoa hired Financial Engines to offer both managed accounts and online advice to its 401(k) Savings Plan participants who needed assistance in their retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. . "We've heard from many Alcoa employees that it's hard making Savings Plan investment decisions," said Robert Kleckner, manager, Savings Plan Administration, Alcoa. "That's why Alcoa teamed with Financial Engines -- we want to make sure our employees get the help they need to achieve a more secure retirement." Alcoa began offering Financial Engines' Personal Online Advisor in October 2004 and the service has already been used by 18.6 percent of Alcoa participants. Personal Asset Manager complements the online service by appealing to the population of Alcoa employees who lack the time or expertise to take a hands-on approach to managing their Savings Plan accounts. As part of the Personal Asset Manager enrollment campaign, each participant receives a Personal Evaluation of their Alcoa Savings Plan account, which analyzes their current investment strategy and highlights areas of concern related to savings, diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. and company stock. After receiving this evaluation, some employees may choose to enroll in the Personal Asset Manager program while others may elect to use the Personal Online Advisor for help with their planning. Financial Engines handles all 401(k) Savings Plan portfolio transactions for Personal Asset Manager program members and reviews their accounts on a quarterly basis. All program members are kept informed with printed Progress Reports, and employees can speak to an Investment Adviser Representative if they have any questions. "Choosing from a long list of funds can be overwhelming and intimidating in·tim·i·date tr.v. in·tim·i·dat·ed, in·tim·i·dat·ing, in·tim·i·dates 1. To make timid; fill with fear. 2. To coerce or inhibit by or as if by threats. , leading many employees to do nothing and hope for the best," said Jeff Maggioncalda, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Financial Engines. "We're pleased to work with companies like Alcoa that are committed to giving employees the help they need to build more secure retirements." About Financial Engines Financial Engines is a new breed of investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and providing personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. 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 advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to meet the needs of all investors. For more information, please visit www.financialengines.com. Financial Engines(R) is a registered trademark of Financial Engines. All other trademarks and service marks are the property of their respective owners. All advisory services are provided by Financial Engines Advisors LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a federally registered investment adviser. |
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