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Friday, February 23, 2024

Edelman Monetary Engines Acquires $1.5B Retirement Plan Guide


Edelman Monetary Engines, the impartial RIA agency that was created by way of the mixture of Edelman Monetary Companies and Monetary Engines, has acquired New England Pension Plans Methods, a full-service retirement plan consulting agency and its affiliated RIA New England Funding Consultants. The Windfall, R.I.-headquartered corporations handle a mixed $1.5 billion for greater than 500 purchasers, 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 non-public fairness big 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 during the last a number of years. Final 12 months, as an example, the agency acquired Sensible 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 homeowners looking for recommendation on managing their corporations’ retirement plans,” stated Suzanne van Staveren, govt vice chairman, CFO and COO at Edelman Monetary Engines, in an announcement. “The addition of NEPPS provides to the sturdy present basis now we have in offering the office with customized 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(ok) managed accounts and funding advisory companies with a set of capabilities to assist workers with their broader monetary wellness wants. The agency hopes the portal will function a shopper 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 purchasers, intrude with contracts and enterprise expectations, defame the agency’s popularity and “steal the fruits of “Edelman’s multimillion greenback investments in advertising and shopper goodwill.”

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

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

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