In a press release, JPMorgan said that it would use the company to provide personalized managed account programs for participants. The two companies already work together, with Financial Engines providing online advice for JPMorgan clients.
Through JPMorgan’s Audience of One program, clients now have access to the managed accounts. They will first receive a Personal Evaluation by mail, and upon enrollment in the Personal Asset Manager program, a personalized portfolio is created. Managed accounts, managed by Financial Engines, will now be added as a possible part of the program.
The program will be available in the second quarter of 2005.
Financial Engines ( www.financialengines.com ) is an investment advisor that provides investment advice and portfolio management for 401(k) participants, while JPMorgan Retirement Plan Services provides DC services and administers investment options for 180 corporate clients.