IRA management includes access to Financial Engines’ retirement income feature, Income+. The company is now managing IRA assets for 401(k) participants from select plan sponsors on multiple custodial platforms.
Financial Engines extended its Income+ methodology to IRAs so that retirees looking to generate income from an IRA can receive steady monthly payouts based on their household’s changing needs. This enhancement also makes management and Income+ portable for participants who want continued help if they decide to roll out of their 401(k) plan or take a pension lump sum distribution.
“Americans entering retirement today, especially those with modest assets, are on their own to manage unprecedented complexity and uncertainty,” said Jeff Maggioncalda, CEO of Financial Engines. “There is an urgent need for unbiased help and management that puts together all retirement accounts and sources of income to make the most of what people have saved. By offering IRA management, we are another step closer to this vision.”
Broader IRA advice and management will leverage Financial Engines’ institutional-quality methodology and is delivered through an open architecture framework so participants do not need to move their accounts. Current custody platforms include Charles Schwab and TD Ameritrade.
More information is available on the Financial Engines website at http://corp.financialengines.com/.