Friday, December 15, 2023
HomeWealth ManagementEdelman Monetary Engines Acquires $1.5B Retirement Plan Advisor

Edelman Monetary Engines Acquires $1.5B Retirement Plan Advisor

Edelman Monetary Engines, the unbiased RIA agency that was created by means of the mixture of Edelman Monetary Providers and Monetary Engines, has acquired New England Pension Plans Techniques, a full-service retirement plan consulting agency and its affiliated RIA New England Funding Consultants. The Windfall, R.I.-headquartered companies handle a mixed $1.5 billion for greater than 500 shoppers, together with people, trusts, estates and charitable organizations.

The deal represents Edelman’s largest since launching its present M&A method in 2021; that was across the time the RIA recapitalized with an funding from personal fairness large Warburg Pincus that valued the funding advisory agency at $7.3 billion. 

The acquisition additionally beefs up the agency’s retirement plan consulting capabilities to small companies, which it has been constructing over the past a number of years. Final 12 months, for example, the agency acquired Good Investor, a Roseville, Calif.-based RIA with small retirement plan capabilities.

“As we proceed to develop each organically and thru acquisitions, we’re seeing extra demand from small enterprise house owners looking for recommendation on managing their firms’ retirement plans,” mentioned Suzanne van Staveren, government vice chairman, CFO and COO at Edelman Monetary Engines, in an announcement. “The addition of NEPPS provides to the sturdy present basis we now have in offering the office with personalised retirement recommendation at scale.” 

Additionally final 12 months, the agency launched a brand new office platform, Momentum by Edelman Monetary Engines, meant to function a bridge throughout its 401(okay) managed accounts and funding advisory companies with a collection of capabilities to assist staff with their broader monetary wellness wants. The agency hopes the portal will function a consumer acquisition pipeline.

In November, Edelman filed a lawsuit towards competitor Mariner Wealth Advisors, accusing the RIA of “flagrant and ongoing efforts” to steal Edelman secrets and techniques and shoppers, intervene with contracts and enterprise expectations, defame the agency’s status and “steal the fruits of “Edelman’s multimillion greenback investments in advertising and consumer goodwill.”

Mariner fired again this week, accusing EFE of a “practically three-year marketing campaign to unlawfully stifle truthful competitors within the funding advisory companies trade.”

Edelman Monetary Engines now manages greater than $245 billion in belongings.



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