Edelman Financial Engines, a national RIA firm managing $227 billion, has acquired Erman Retirement Advisory, a Seal Beach, California-based registered investment adviser managing $210 million.
Founded in 2000 by Howard Erman, the firm serves more than 200 clients, Edelman Financial Engines said in a press release Wednesday.
The acquisition of Erman Retirement follows that of Herrmann & Cooke in October, continuing Edelman Financial Engines' expansion into the California market. Edelman Financial Engines also acquired Smart Investor in August, which added to its small business retirement plan capabilities.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
