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.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
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.
