Financial Counseling Resources
Rice University offers access to financial counseling resources to assist faculty and staff in the management of their retirement accounts. For more information on the Financial Engines Investment Advisor or Hello Wallet, please click on the tabs below.
Rice University offers the Financial Engines Investment Advisor service to benefits eligible faculty and staff!
Financial Engines® is an online investment advisory service founded by Nobel Prize winning economist Bill Sharpe, which offers the opportunity to assess personal savings plans and personal retirement goals. Participants enter his or her own specific information in a personal, private account, receive a Forecast, and get personalized advice on ways to adjust factors such as savings rate, retirement age, income goal and risk level of investments to better achieve their goals. The service will consider all investments entered by the user in the Forecast, and will offer advice on the accounts by choosing from the mutual funds or TIAA account options available, helping the participant to better achieve his or her goals.
This is another benefit offered by Rice to permit faculty and staff to manage their retirement accounts in an informed manner.
From here, you may:
- Go to the Financial Engines website to create your account now, using "Rice" as the sponsor and your Social Security number as your temporary ID (You will be asked to create your own password for the account);
- View or print the Financial Engines announcement distributed to Rice University faculty and staff; and,
- Print a copy of a comment sheet you may use to forward your comments on the Financial Engines service to Human Resources.
Please use this valuable benefit to assist you with your retirement planning!
HelloWallet, free for you on behalf of Rice University, is a web and mobile based financial guidance application designed to help you boost your wealth and reach your financial goals. With HelloWallet you can see all of your accounts in one beautiful place, get a comprehensive assessment of your financial life, set financial goals and save for the future.
Whether you want to pay off your student loans or save for a down payment on a new home, HelloWallet will help you get there! Sign up for HelloWallet today and get your personal Financial Wellness Score to help assess your financial wellness and measure your progress over time. Ready to get started? Sign up now at http://www.hellowallet.com/riceu/.
In addition to these resources, TIAA and Fidelity Investments are periodically on campus to conduct one-on-one counseling sessions or you can travel to one of their nearby locations. Schedule an appointment with TIAA or with Fidelity.
Tenured and tenure-track faculty may also use a $750 reimbursement for financial planning services. See below for more details.
Tenured and tenure-track faculty members may use a $750 reimbursement (which is taxable) to visit an independent financial planner to discuss their personal financial plan. This subsidy is available once within one year of achieving tenure and once again when age 50 or older. This benefit will be reimbursable as detailed below and is taxable.
Here is a list of independent, fee-based financial planners in the Houston area who are familiar with Rice's retirement plans and benefits:
|Charles L. Parker, Jr.||Stephanie M. Scherr||Michael R. Tibbets|
|Parker Financial Advisors
14825 St. Mary’s Lane, Suite 250
Houston, TX 77079
(832) 476-3495 or (877) 752-6228
|Certified Financial Planner
8 Greenway Plaza, Suite 822
Houston, TX 77046
|De Lange, Hudspeth, McConnell
& Tibbets, L. L. P.
1177 West Loop South, Suite 1700
Houston, TX 77027
You may choose one of the consultants above or select any other professional financial advisor. We recommend pursuing a fee-based advisor who can assess your situation and provide advice without the sometimes adverse incentive of commissions. By making this list available, the university does not endorse the services of any consultant chosen. Rice reimburses you the same regardless of which financial advisor you select.
To receive reimbursement, please send a copy of your bill for services to Sue Prochazka at SProchazka@rice.edu and you will be reimbursed for up to $750.00 in services.
The Federal Government also created a website, www.mymoney.gov, to assist Americans with financial education — check it out!