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Financial Engines, which provides online financial planning services, did something that hasn't been done this year; that is, price its IPO above the range. The company issued 10.6 million shares at $12 million. As for the price range, it was $9 to $11.It's another sign that IPOs are warming up again -- at least for strong companies.
Financial Engines is the mastermind of Dr. William F. Sharpe, who won the 1990 Nobel Prize in Economic Sciences. He thought that the Internet could help provide high-quality, independent retirement plans to the middle class.
To pull this off, Financial Engines works primarily through company-based 401(k) plans. What's more, the revenue comes from fees that are based on the value of assets under management.
Even with the recession, Financial Engines has been posting good numbers. Last year, the company generated $85 million in revenues, up 19%. Net income came to $5.7 million.
Financial Engines has contracts with 116 Fortune 500 companies and eight of the Fortune 20. In all, there are 7.4 million plan participants and the company manages $26 billion in assets.
So far in today's trading, the shares of Financial Engines are up 32% to $15.84.
Tom Taulli advises on business tax preparation and is also the author of a variety of books, including The Complete M&A Handbook
. His website is at Taulli.com. 
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