Passing up a position at a well-known management consulting firm, Jeffrey Maggioncalda took his newly earned master’s degree in business administration and signed on as CEO of a startup financial retirement planning business. He worked tirelessly while raising his young family and was able to secure venture funding.
Maggioncalda recognized that in order to make a real impact on people’s lives, the company would have to become a Registered Investment Advisor and embrace a standard of care, ethics and regulatory oversight that went far beyond the typical technology company in Silicon Valley. To help carry out this mission, Maggioncalda put his faith in new technology and services ranging from online investment advice to managed accounts and 401(k) retirement income services.
Today, Financial Engines is the largest independent RIA in the United States, managing 472,000 accounts and offers independent investment advice to more than 7 million participants.
As employee No. 1 of Financial Engines, Maggioncalda had the benefit of setting the tone for every one of the current 300 employees added to the company. He has sponsored people initiatives that covered recruiting, training, development, performance, communication, reward and retention programs that drive company strategy and employee morale. Maggioncalda believes that the key is to provide a long-lasting sense of purposeful challenging work that develops not only skills but an identity and an environment and team that employees enjoy.
His inspirational leadership helps drives employee loyalty, as well. Employees feel they are part of a team that has passion for helping people invest and believe in the company’s mission to provide retirement help for life. The company’s voluntary turnover rate has averaged just 3.5 percent since 2007, significantly lower than other companies in the industry and the area.
In a competitive world where the career of a venture-backed CEO is often measured in months, Maggioncalda stands out with 15 years’ leadership with Financial Engines.
How to reach: Financial Engines Inc., (650) 565-4900 or www.financialengines.com