JPMorgan Retirement Plan Services said Wednesday that it had picked Financial Engines to be its managed account provider.
The unit of JPMorgan Chase & Co. said it will use Financial Engines to supply a managed account offering for its retirement plan participants. Financial Engines already gives online advice to JPMorgan clients.
The managed account program is to become available to JPMorgan clients in the second quarter.
Financial Engines is to personalize each participant account based on age, savings information, and current invest-ments. The Palo Alto, Calif., company started a similar program with Mellon Financial Corp. in January.
JPMorgan Retirement Plan Services provides bundled defined contribution services and administers investment options to 180 corporate clients, with nearly one million retirement plan participants. It administers plan assets of $60 billion.
