Florida names finalists for 401(a) financial education, advice

Florida State Board of Administration, Tallahassee, named Ernst & Young Investment Advisers, Financial Engines Advisors and Financial Soundings Investment Advisor as finalists in a search for financial education and advice services to participants of the $7.4 billion Florida Retirement System 401(a) investment plan.

The board, which oversees a total $157 billion, including the plan, could hire more than one firm.

Ernst & Young and Financial Engines are the incumbents.

The FSBA initially expected to make a decision Jan. 4, but John Kuczwanski, FSBA communications manager, said a date hasn't been set.

The FSBA didn't use a consultant for the search, which is the result of invitation to negotiate issued this fall.