Edelman Financial Engines has appointed Michael Liersch as its first chief planning officer, expanding its executive leadership team as the firm sharpens its focus on delivering integrated financial advice across both its workplace and retail advisory services.
Liersch, who officially joins the firm on August 29, will lead Edelman’s efforts to integrate financial planning, educational resources, and personalized advice.
The new role will report directly to chief executive Jay Shah and is separate from the firm’s recently appointed president, Ralph Haberli, who is taking charge of overseeing business channel growth as he officially takes the reins on July 2.
Shah cited Liersch’s background in behavioral finance as a key factor in the appointment.
“Many people think money management is just about dollars and numbers – but it’s really about emotion and trust,” Shah said in a statement announcing the move on Tuesday. “Michael’s expertise at the intersection of planning, advice, and solutions, combined with his behavioral finance background and a unique perspective on the human side of money, makes him an exceptional fit.”
In an interview with InvestmentNews, Liersch said the role reflects Edelman’s ambition to combine technology, planning, and fiduciary commitment.
“This chief planning officer role is a new role that really takes on this idea of combining that planning philosophy, tech-enabled advice and human advice, and ultimately delivering solutions that are leading the way in the future,” he said.
Liersch most recently served as head of advice and planning at Wells Fargo, and previously held leadership positions at JPMorgan Chase, Merrill Lynch, and Barclays Wealth.
His appointment follows a string of moves by Edelman to strengthen its planning-first proposition, including the hiring of Haberli from Capital Group and its acquisition of Cahill Wealth Management in May. The firm manages over $287 billion in assets for 1.3 million end clients, which substantially includes participants in the retirement plan space.
Liersch pointed to Edelman’s client-driven approach and focus on fiduciary standards as key reasons behind his move. “It’s really this client-first philosophy, this human-first philosophy of delivering best-in-class advice to as many human beings as possible,” he said.
He also emphasized the firm’s broad focus that cuts across the intersection of workplace savings and the broader arena of wealth.
“From the workplace offering serving everyday people saving for their retirement futures, all the way through to the wealth offering ... they’re really just a leader in that trend, and I wanted to be a part of that,” Liersch said.
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