Private equity firm Warburg Pincus has taken a minority stake in Edelman Financial Engines. The investment, the size of which was not disclosed, values the company at $7.3 billion. The deal is expected to close in the second quarter, the company said in a release.
Hellman & Friedman remains the company's majority owner. Hellman & Friedman bought a stake in Edelman Financial Services in 2015, purchased Financial Engines for $3.02 billion in 2018 and then merged the two.
Edelman Financial Engines, one of the nation’s largest RIA firms, manages $260 billion.
In 2019, Warburg Pincus took a majority stake in independent broker-dealer Kestra Financial.
A Nationwide survey finds 47% of GLP-1 users have never discussed the drugs’ financial impact with an advisor, even as many dip into savings.
The hundreds of millions of dollars from a sale of Inspired Healthcare properties does not mean an immediate windfall for investors.
Its SEC filings said one thing - a congressional probe said another.
Sham agreements allegedly padded revenue by 345%.
"Most pre-retirees are uncomfortable making key retirement income decisions without an advisor's help," said Chris Bailey of Cerulli.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
