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.
With a fifth of RIA firms using AI to create marketing content, one leading voice argues a clear identity and focusing on clients will be crucial to success.
LPL Financial is a bellwether for the broader financial advice marketplace.
The San Francisco-based startup's Series A funding, with support from Schwab and Edward Jones Ventures, will reinforce its role in the coming $124 trillion wealth transfer.
The quartet of deals across New York, Florida, Ohio, and New Mexico reinforces the fast-growing integrator's leading position in the independent space.
UBS and Wells Fargo have made their own additions in the Northeast, including a Massachusetts duo defecting from Commonwealth.
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.
