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Fifteen years ago, when Financial Engines began delivering personalized retirement strategies to 401(k) investors, the idea was considered visionary, said Kelly O'Donnell, who was recently promoted to head Edelman Financial Engines' workplace unit.
But now that the 401(k) has become the primary retirement savings vehicle for most Americans, more sponsors are realizing the need for more holistic advice beyond the retirement plan.
That bodes well for the Edelman Financial Engines model, and it also means that sponsors' reluctance to tap managed accounts as the default investment will change, thinks O'Donnell.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
