BOSTON–(BUSINESS WIRE)–Edelman Financial Engines today announced that founder Ric Edelman will transition at the end of the year from his role as Chairman, Financial Education and Client Experience. In the new year, Edelman will serve as a strategic advisor to the firm while remaining on the Board of Directors. He also continues to be the firm’s largest individual shareholder.
Since founding Edelman Financial Services with his wife Jean in 1986, Edelman has never wavered in his commitment to improving the financial futures of millions of American consumers. Edelman is a pioneer in financial education, a #1 New York Times bestselling author of ten books on personal finance, and he twice received “book of the year” awards from the Institute for Financial Literacy.1 He has hosted The Ric Edelman Show for 29 years, reaching millions of listeners and has been named six times among the top 100 “most important radio talk show hosts in America” by TALKERS magazine.2
Along the way, Edelman has become the most highly acclaimed financial advisor in the country, having been named in 2016 among the country’s Top 10 Wealth Advisors by Forbes magazine3 and the nation’s #1 Independent Financial Advisor three times by Barron’s.4 InvestmentNews5, RIABIZ and Investment Advisor magazines have all named Edelman among the most influential thought leaders in the financial planning industry and Barron’s added Edelman to its Financial Advisors Hall of Fame.6
In 2018, Edelman Financial Services merged with Financial Engines to create the nation’s largest independent financial planning and investment management firm. The company has completed its integration, successfully navigated the pandemic and grown to serve 1.3 million clients, managing $270 billion in client assets. In March, the firm announced a strategic investment from Warburg Pincus, who joins lead investor Hellman & Friedman to power the firm’s next stage of growth.
“Jean and I have decided the time is right for us to start our next chapter,” said Edelman. “With a team of talented and dedicated planners and staff, and an experienced and capable management team, we are confident in the firm’s future. We are grateful to our friends, colleagues and, most importantly, to our clients for their faith in us. And we are excited about our new ventures.”
“We believe every person deserves to achieve financial security, and nobody has done more to advance that mission than Ric and Jean Edelman,” said Larry Raffone, President & Chief Executive Officer of Edelman Financial Engines. “Ric and Jean have our deepest gratitude and support as they embark on this next chapter, and I look forward to Ric’s continued contributions to our clients and our industry.”
Edelman Financial Engines has begun efforts to identify a new host for its weekly radio show, continuing its decades-long commitment to financial education for the next generation of investors. The final episode under The Ric Edelman Show moniker will air this fall, and Ric will appear occasionally on the new program. He’ll also periodically write a column for the firm’s new client newsletter and attend client events.
“The philosophy developed by Ric, deployed across the firm’s nationwide network of locations and embraced by our 340 financial advisors is what sets Edelman Financial Engines apart in the RIA industry,” added Mr. Raffone. “We will continue to champion Ric’s legacy as we deliver on our mission to help millions of Americans reach their financial goals.”
About Edelman Financial Engines
Since 1986, Edelman Financial Engines has been committed to always acting in the best interest of our clients. We were founded on the belief that all investors – not just the wealthy – deserve access to personalized, comprehensive financial planning and investment advice. Today, we are America’s top independent financial planning and investment advisor, recognized by Barron’s7, with 150+ offices across the country and entrusted by 1.3 million clients to manage more than $270 billion in assets.8 Our unique approach to serving clients combines our advanced methodology and proprietary technology with the attention of a dedicated personal financial planner. Every client’s situation and goals are unique, and the powerful fusion of high-tech and high-touch allows Edelman Financial Engines to deliver the personal plan and financial confidence that everyone deserves.
