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Alight Financial Advisors Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Alight Financial Advisors LLC

Conducting business under the name Aon Hewitt Financial Advisors, Alight Financial Advisors is a fee-based firm that exclusively serves non-high-net-worth individuals. The firm doesn't advise many of these individuals directly, but rather through employer-sponsored retirement plans.

Since the firm only provides account management for employees participating in defined contribution plans you may need to look elsewhere if you're independently looking for an advisor. If you’re searching for a firm that offers advisory services for individuals, SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, 

Alight Financial Advisors Background

Founded in 2011, Alight functions as a wholly-owned subsidiary of Alight Solutions, LLC. Alight also partners with Edelman Financial Engines to provide sub-advisory services and build target asset allocations for clients. Alight Solutions, which provides benefits administration and human resources and financial solutions, is a publicly traded company on the New York Stock Exchange.

Alight Financial Advisors Client Types and Minimum Account Sizes

Alight primarily serves individual employees participating in employer-sponsored defined contribution plans. The firm also extends its services to retirees. 

Alight doesn’t specify its minimum account size requirements.

Services Offered by Alight Financial Advisors

Alight offers its clients a range of advisory services, including retirement evaluation for participants in employer-sponsored retirement plans, online advice, discretionary investment management, as well as Social Security and income planning. 

  • Portfolio management 
  • Financial planning
  • Educational seminars and workshops

Alight also provides on-site financial education programs at its clients’ sites of employment. The firm also offers education programs through live or pre-recorded webinars.  

In 2021 the firm launched Alight Financial Path, an integrated service that's available to customers using Alight's HR and benefits portal. Alight Financial Path "aligns benefits information and guidance to employees at their point of need, whether it’s building an investment portfolio, paying down debt or saving for specific life stages," the firm says. The service offers financial education, financial planning, navigation and engagement and support.

Alight Financial Advisors Investment Philosophy

In its firm brochure, Alight states that its policy is to implement high levels of attention and care when making investment decisions on behalf of its clients. The firm relies on Financial Engines’ investment methodologies and strategies when delivering investment advice. 

Alight says that all of Financial Engines’ portfolio allocations take into account factors such as client investment objectives, risk tolerance and client circumstances. The firm typically invests in commingled funds, mutual funds, separate accounts, exchange-traded funds (ETFs), certificates of deposit (CDs) and individual equities. Advisors generally recommend long-term purchases, but they also employ trading or short-term purchases. 

Fees Under Alight Financial Advisors

Alight generally has two separate categories of management fees it charges clients. For professional management services, the firm charges clients at a rate of up to 0.60% of assets under management (AUM), although that rate declines for balances of more than $100,000. Clients pay these fees monthly or quarterly, in arrears. 

Alight also charges management fees for plan participants using the firm’s online advice. The plan or plan sponsor typically pays these fees, but, in some cases, the firm charges the plan participant a fee ranging from $10 per eligible plan participant per year. The firm may also charge retirement plans or plan sponsors one-time or regular fees regarding set-up, licensing, integration or development. 

What to Watch Out For

Alight only has one disclosure on its disciplinary record, related to an advisory affiliate, Hewitt Financial Services. In 2008, Hewitt received a censure and fine of $8,500 for allegedly failing to accurately prepare books and records and for allegedly inaccurately reporting level of capital and aggregate indebtedness. The affiliate also allegedly prepared inaccurate net capital computations. Alight’s Form ADV doesn’t list any other regulatory violations.

However, the firm's advisors do not earn commissions from selling financial products to clients, which would constitute a conflict of interest. As a result, Alight Financial Advisors is considered a fee-only firm as opposed to a fee-based one. 

Opening an Account With Alight Financial Advisors

If you’re interested in setting up an account with Alight, you can either visit the firm’s office, or you can set up an appointment with an advisor by calling the firm over the phone at (866) 560-7256.

All information was accurate as of the writing of this article.

Tips for Finding a Financial Advisor 

  • Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • You’ll have countless options when it comes to financial advisors, but it’s important to choose the one that’s best for your savings goals. One way to narrow down your search is by identifying your long- and short-term goals, as well as the specific areas of wealth you’d like assistance with.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research