T. Rowe Price Expands Retirement Plan Advice Platform
T. Rowe Price Expands Retirement Plan Advice Platform
November 9, 2005
T. Rowe Price Expands Retirement Plan Advice PlatformBALTIMORE (November 9, 2005) – Plan sponsors of 401(k) and other retirement plans are increasingly looking for a variety of services that will help their employees make smarter retirement planning decisions and achieve their retirement savings goals. To give plan sponsors greater choice in the tools they may wish to make available to plan participants, T. Rowe Price has expanded the advice portion of its personal finance platform by adding the Financial Engines Personal Asset Manager program, thereby now offering Financial Engines’ full suite of advisory services.
Designed for individuals who would prefer to delegate plan management to an investment professional, the Personal Asset Manager program considers each participant’s financial circumstances and generates a personalized, well-diversified portfolio using the investment options available in the plan. The program includes portfolio monitoring and management, quarterly Progress Reports and phone access to investment advisors.
The Personal Asset Manager program kicks off with each participant receiving a Personal Evaluation, which is a personalized retirement assessment that shows each participant where they stand in relation to their retirement goals and how they can improve their financial outlook. T. Rowe Price integrates plan and participant data so that all of the advisory services are personalized for each employee.
Through T. Rowe Price, plan sponsors already had the ability to select Financial Engines’ Personal Online Advisor, which offers participants specific investment recommendations and ongoing portfolio monitoring.
“As a service provider, it is very important that we make top quality advice available to plan participants so they can make better retirement investing decisions,” says Charles E. Vieth, president of T. Rowe Price Retirement Plan Services, Inc. “Financial Engines has a comprehensive multi-channel platform and a proven methodology, is highly regarded for their investment and technology expertise, and has shown that they can make a positive difference in participants’ investment behavior. In addition, their Advice Engines can consider an investor’s entire household portfolio, including both tax-deferred and taxable investments. We are confident that plan sponsors and employees can benefit from access to more of their independent advice and portfolio management services.
“At the same time, aligning ourselves with multiple independent service providers – with whom we can integrate data to provide participants with a more personalized experience – gives us greater flexibility and allows us to offer plan sponsors more choice in terms of methodology and format of advice delivery,” adds Mr. Vieth.
“Financial Engines’ managed account program is designed to make 401(k) investing more automatic and less overwhelming for employees,” says Larry Raffone, executive vice president for Financial Engines. “Clients of T. Rowe Price can now benefit from the independence, consistency and personalization of Financial Engines’ full suite of advisory services.”
Founded in 1937, Baltimore-based T. Rowe Price (Nasdaq: TROW) is a global investment management firm with $257.6 billion in assets under management as of September 30, 2005. The firm provides a broad array of mutual funds, sub-advisory services, and separate account management for retirement plans, individual and institutional investors, and financial intermediaries – in addition to the services offered through Retirement Plan Services. T. Rowe Price’s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.
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 all types of defined contribution plan investors. For more information, please visit www.financialengines.com.
Financial Engines is not affiliated with or an employee or an agent of T. Rowe Price or any of its affiliates. Plan Sponsors must elect to make the Financial Engines services available.
Designed for individuals who would prefer to delegate plan management to an investment professional, the Personal Asset Manager program considers each participant’s financial circumstances and generates a personalized, well-diversified portfolio using the investment options available in the plan. The program includes portfolio monitoring and management, quarterly Progress Reports and phone access to investment advisors.
The Personal Asset Manager program kicks off with each participant receiving a Personal Evaluation, which is a personalized retirement assessment that shows each participant where they stand in relation to their retirement goals and how they can improve their financial outlook. T. Rowe Price integrates plan and participant data so that all of the advisory services are personalized for each employee.
Through T. Rowe Price, plan sponsors already had the ability to select Financial Engines’ Personal Online Advisor, which offers participants specific investment recommendations and ongoing portfolio monitoring.
“As a service provider, it is very important that we make top quality advice available to plan participants so they can make better retirement investing decisions,” says Charles E. Vieth, president of T. Rowe Price Retirement Plan Services, Inc. “Financial Engines has a comprehensive multi-channel platform and a proven methodology, is highly regarded for their investment and technology expertise, and has shown that they can make a positive difference in participants’ investment behavior. In addition, their Advice Engines can consider an investor’s entire household portfolio, including both tax-deferred and taxable investments. We are confident that plan sponsors and employees can benefit from access to more of their independent advice and portfolio management services.
“At the same time, aligning ourselves with multiple independent service providers – with whom we can integrate data to provide participants with a more personalized experience – gives us greater flexibility and allows us to offer plan sponsors more choice in terms of methodology and format of advice delivery,” adds Mr. Vieth.
“Financial Engines’ managed account program is designed to make 401(k) investing more automatic and less overwhelming for employees,” says Larry Raffone, executive vice president for Financial Engines. “Clients of T. Rowe Price can now benefit from the independence, consistency and personalization of Financial Engines’ full suite of advisory services.”
Founded in 1937, Baltimore-based T. Rowe Price (Nasdaq: TROW) is a global investment management firm with $257.6 billion in assets under management as of September 30, 2005. The firm provides a broad array of mutual funds, sub-advisory services, and separate account management for retirement plans, individual and institutional investors, and financial intermediaries – in addition to the services offered through Retirement Plan Services. T. Rowe Price’s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.
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 all types of defined contribution plan investors. For more information, please visit www.financialengines.com.
Financial Engines is not affiliated with or an employee or an agent of T. Rowe Price or any of its affiliates. Plan Sponsors must elect to make the Financial Engines services available.