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.
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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.
