Financial Engines, a Palo Alto-based provider of online investment software, has introduced the Financial Engines Investment Advisor, an Internet-based advisory service for participants in 401(K) plans.

The service was developed by William F. Sharpe, a Nobel Laureate in Economics, with a team of software and finance experts. The service helps 401(K) plan participants understand the issues of investment risk and return and offers specific fund recommendations to meet their goals.

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