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.
The bank's new training initiative aims to add hundreds of advisors as it expands its mass-affluent advice unit, according to Barron's.
The lawyers' group warns that adjudicating certain claims externally and limiting punitive damages, among other suggestions, could hurt investors.
With Parkworth Wealth Management and its Silicon Valley tech industry client base now onboard, Savant accelerates its vision of housing 10 to 12 specialty practices under its national RIA.
The wealth tech giant is unveiling its new offerings, designed for advisor productivity and client engagement, as investors and experts continue to grapple with the implications of AI.
Meanwhile, Merchant is continuing to expand its support for RIAs by partnering with a South Dakota-chartered trust company.
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.
