Financial Engines offers low-cost portfolio solutions, so how will its newly announced acquisition of the high-cost Mutual Fund Store fit in with that?
The $560 million acquisition will add roughly $9.8 billion assets under management to the $104.4 billion Financial Engines had under management at the end of 2014. CEO Larry Raffone said this "is not a brick-and-mortar play," but rather an acknowledgement that "people want help in different ways.”
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