Edelman Financial Engines adds to Northern California presence with $490 million deal

Edelman Financial Engines adds to Northern California presence with $490 million deal
The acquisition of Herrmann & Cooke Wealth Management adds 600 new clients to Edelman's base of more than 1.3 million clients.
OCT 05, 2022

Edelman Financial Engines has added $490 million and approximately 600 clients with the acquisition of Danville, California-based Herrmann & Cooke Wealth Management.

“Herrmann & Cooke has a strong focus on growth, and the firm’s priorities have long included developing its employees, expanding services, and attracting and retaining new clients, all of which align closely with the growth goals for our wealth planning business,” Suzanne van Staveren, executive vice president and chief financial officer at Edelman, said in a statement.

“This transaction also expands our strong presence in an attractive Northern California market and adds capacity to service the increased demand in that region,” she added.

Jason Van der Loo, Edelman’s executive vice president and head of wealth planning and marketing, said the acquisition furthers the effort to “deliver a modern suite of wealth planning capabilities and value to our clients.”

“As we continue to grow, we are focused on acquisition opportunities that align with our mission and purpose, and offer the right mix of clients, culture, and capabilities,” he added. “Herrmann & Cooke is a perfect fit in all three of these areas, and we look forward to welcoming their team and clients to our firm.”

This deal follows Edelman's August 2022 acquisition of Smart Investor and its 2021 purchase of Viridian Advisors.

Boston, Massachusetts-based Edelman Financial Engines has offices in more than 145 U.S. cities and works with more than 1.3 million clients to manage $241 billion.

'IN the Office' with Anna Paglia, global head of ETFs at Invesco

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.