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.