Participants will be able to tap into Financial Engines online advice, complemented with the addition of CitiStreet’s Advice Account, which offers unlimited phone access to live financial advisors.
It’s the first time that the Financial Engines/CitiStreet alliance has introduced the advice services jointly. CitiStreet’s advisors have been using Financial Engines’ tools in assisting participants since 1998.
Boise Cascade’s plan will also include a line-up of index funds from State Street Global Advisors (SSgA). CitiStreet was already performing recordkeeping services for the plan.
Using the Advisor service, a CitiStreet Financial Advisor will prepare a customized report that offers an analysis of an individual’s entire portfolio and creates a personalized action plan. Employees using the service receive specific fund advice over a set of specially designed investment choices.
CitiStreet, a joint venture of SSgA and Citigroup, is the third largest defined contribution record keeper in the United States.
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