Financial Engines and Alight Solutions Expand Relationship to Bring Comprehensive, Conflict-free Financial Planning and Holistic Investment Management Into the Workplace

Increases employee access to high-quality financial advice from expansive network of planners

SUNNYVALE, Calif.–(BUSINESS WIRE)–Financial Engines (“FE”), America’s largest independent financial planning and investment advisor[1], is expanding its relationship with Alight Solutions, a leader in benefits, payroll and cloud solutions, to provide integrated financial planning and investment management services to Alight Financial Advisors[2] (“AFA”)clients. Under the preferred agreement, FE will now offer integrated financial planning and comprehensive investment management services with a dedicated planner for employees of sponsors using AFA advisory services, powered by FE. The offering will leverage FE’s network of unconflicted financial planners across the country.

“As employees’ financial lives continue to become more complex and uncertain, a growing number of employers are looking to provide more help to improve employees’ financial wellbeing,” said Kelly O’Donnell, executive vice president and head of workplace at Edelman Financial Engines. “We are excited to broaden our relationship with Alight to bring even greater access to financial planners and investment management services in the workplace to help more employees enjoy a successful financial future.”

The expanded relationship with FE complements Alight’s focus on connecting people’s financial realities and daily needs with their longer-term retirement and personal savings goals. According to a recent report published by Alight, more than four out of five employers believe creating or expanding a financial wellbeing program enhances the overall employee experience and is the right thing to do for employees (83% and 81%, respectively) [3].

The enhanced offering expands the existing advisory services for retirement plans delivered through AFA by providing comprehensive, financial planning and investment management services, free of product conflict, to support employees with their personal finance decisions.

The newly available services include:

  • the personal touch of a dedicated financial planner who is available to work with employees as they prefer, whether in-person, over the phone or online;
  • a personalized financial planning experience that establishes plans for employees to reach important goals;
  • extending high-quality institutional investment management for all the household’s accounts, including IRA and taxable accounts, using a consistent investment methodology across all client assets wherever they are invested;
  • robust tax optimization, including investment specific tax efficiency; and
  • onsite education and planner programs at the employer’s offices.

“Our goal is to support employees through education, guidance and advice to help them make informed decisions when it comes to their retirement and financial wellbeing,” said Cindy Shearer, vice president, financial services at Alight. “We are proud to partner with Financial Engines as we continue to provide employers with sophisticated tools and resources that help participants plan, save and invest smarter to secure their financial futures.”

“We look forward to bringing more capabilities and solutions to employees of AFA’s plan sponsor clients that can better help them navigate their complex financial lives,” added Stephen Rubino, senior vice president, head of workplace innovation at Edelman Financial Engines. “It is through innovation and relationships like ours with AFA that we can broaden the access to high-quality financial service offerings that all employees deserve.”

About Edelman Financial Engines

Since 1986, Edelman Financial Engines and its workplace business Financial Engines have been committed to always acting in the best interest of our clients. We were founded on the belief that all investors – not just the wealthy – deserve access to personalized, comprehensive financial planning and investment advice. Today, we are America’s top independent financial planning and investment advisor, recognized by both InvestmentNews [1] and Barron’s [4] with 170 planner offices across the country and entrusted by more than 1.2 million clients to manage more than $213 billion in assets. Our unique approach to serving clients combines our advanced methodology and proprietary technology with the attention of a dedicated personal financial planner. Every client’s situation and goals are unique, and the powerful fusion of high-tech and high-touch allows Edelman Financial Engines to deliver the personal plan and financial confidence that everyone deserves.

For more information, visit www.EdelmanFinancialEngines.com and www.FinancialEngines.com.

©2019 Edelman Financial Engines, LLC. All advisory services provided by Financial Engines Advisors L.L.C.

About Alight

Alight Solutions is a leading provider of integrated benefits, payroll and cloud solutions. With more than 15,000 professionals across 29 countries, Alight provides leading-edge benefits administration and ERP technology and services to more than 3,250 clients including 50% of the Fortune 500. Alight’s combination of data-driven insights and technology expertise creates unique value for clients. Alight is a six-time member of IAOP’s Global Outsourcing 100. Learn how Alight drives better business outcomes and employee wellbeing for organizations of all sizes at alight.com.

[1] Ranking and status for 2018. For independence methodology and ranking, see InvestmentNews Center (http://data.investmentnews.com/ria/).

[2] Alight Financial Advisors LLC is an SEC-registered Investment Advisory firm that provides financial planning, investment advisory and financial education services to employees (https://alightfinancialadvisors.com/index.htm).

[3] Alight Solutions, 2020 Hot Topics in Retirement and Financial Wellbeing – A Clear Focus on Change, January 2020 (https://alight.com/research-insights/hot-topics-retirement-jan-2020).

[4] The 2019 Top 50 Independent Advisory Firm Ranking issued by Barron’s is qualitative and quantitative, including assets managed, the size and experience of teams, and the regulatory records of the advisers and firms. Firms elect to participate, but do not pay to be included in the ranking. Investor returns/experience are not considered. 2018 ranking refers to Edelman Financial Services (EFS), which combined its advisory business in its entirety with Financial Engines Advisors L.L.C. (FEA) in November 2018. For the same survey, FEA received a precombination ranking of twelfth.

Contacts

Media:

Amy Conley

Edelman Financial Engines

aconley@financialengines.com
617-556-2305

Landis Cullen

Alight Solutions

landis.cullen@alight.com
312-505-6694

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