Financial Engines, an online 401(k) financial advisory firm aimed at individual investors, is planning a $100 million initial public offering aimed at large institutions and wealthy investors.

The company, which has yet to turn a profit since its debut in 1996, has not set a date for the Nasdaq listing. However, with pension plans becoming obsolete and the need for advice painfully obvious following the financial crisis, the company has a potentially bright future. Indeed, Financial Engines has retained 97% of its 401(k) sponsors each year.

Currently, Financial Engines serves 107 Fortune 500 companies and seven Fortune 20 companies and a total of nearly 400,000 investors.

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