Financial Answers Network is offering defined contribution plan participants financial planning for $216 a year, with employers sharing the cost. Five sponsors are using the program now, including Data Translation Inc., Marlborough, Mass., and Hastings Tapley Insurance Agency, Cambridge, Mass.
Participants get four 45-minute meetings and unlimited telephone access to a financial planner. After completing surveys on savings goals and risk tolerance, participants receive an individualized plan, and are matched with a local financial planner to advise them on the results. The planners are available through a partnership with the Institute of Certified Financial Planners.