Fidelity Investments and Intuit have formed an alliance to develop a software program for use by defined contribution plan participants. The agreement represents the first push into the institutional market by Intuit, maker of Quicken software.
Fidelity QFP will be sold to participants at $34.99 in the first quarter of 1997. Fidelity QFP lets employees download account information directly from Fidelity via the Internet and perform various modeling and what-if calculations to determine the impact of changes to asset allocation or salary deferral levels. The package also integrates other components of personal financial planning.