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As the responsibility for retirement shifts to the individual, there is a growing need for investment counsel. However, employers are hesitant in providing advice because of the fiduciary risks and liabilities. But this has been a huge opportunity for independent service providers, such as Financial Engines. In fact, to capitalize on things, the company has filed to go public.
At the core of Financial Engines is a sophisticated platform for financial planning, which is based on the portfolio analysis of Nobel Laureate, Professor William F. Sharpe (who is also the company's co-founder). This allows for building optimal decisions based on past financial performance, expense levels, manager performance, asset class exposures, tax efficiency and risk tolerances. In other words, individuals can get top-quality financial advice that would typically be available mostly to those with large portfolios.
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