Press Release

Edelman Financial Engines Acquires Erman Retirement Advisory

Issued by Edelman Financial Engines

Dec. 14, 2022

RIA acquisition continues growth of advisor network on the West Coast, expanding footprint in Southern California

BOSTON -- Edelman Financial Engines, America’s top independent wealth planning and investment advisory firm,¹ today announced the acquisition of Erman Retirement Advisory (ERA), a registered investment advisor that provides a comprehensive suite of financial planning and wealth management services. The transaction closed on Dec. 12, 2022.

Founded in 2000 by Howard Erman and headquartered in Seal Beach, California, the firm manages $210 million in assets for more than 200 clients.²

“Erman Retirement Advisory’s planning-first philosophy, proven record of successfully helping clients to achieve their retirement goals, and strong attention to client service closely aligns with our own wealth planning approach. We are excited for them to join the team as we continue to expand our nationwide network of planners,” said Suzanne van Staveren, executive vice president and chief financial officer, Edelman Financial Engines. “Our innovative technology and marketing capabilities allow us to seamlessly integrate RIAs of any size and geographic footprint. This acquisition is another example of how we’re attracting exceptional firms that fit our strategy to offer a modern wealth planning experience for clients.”

“We are thrilled to have a partner that shares our unwavering commitment to serving clients,” said Erman. “This transaction will allow us to continue providing valuable wealth planning support, while offering a wider range of resources and capabilities for our clients – especially those seeking comprehensive services.”

The acquisition of Erman Retirement Advisory follows that of Herrmann & Cooke in October, continuing EFE’s expansion into the California market. EFE also acquired Smart Investor in August, which added to its small business retirement plan capabilities. In 2021, EFE acquired Washington-based Viridian Advisors, growing its advisor network in the Pacific Northwest and adding capabilities in tax planning.

Baker McKenzie served as EFE’s counsel in connection with the transaction. Ballard Spahr served as Erman Retirement Advisory’s counsel, while Echelon Partners served as the advisor.

About Edelman Financial Engines

Since 1986, Edelman Financial Engines has been committed to always acting in the best interests of our clients. We were founded on the belief that all investors deserve access to personal, integrated financial planning and investment advice. Today, we are America’s top independent financial planning and investment advisory firm, as recognized by Barron’s for five consecutive years,¹ with 145+ offices² across the country and entrusted by more than 1.3 million clients to manage $227 billion in assets.³ 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. For more information, please visit EdelmanFinancialEngines.com.

¹ The Barron’s 2022 Top 100 RIA Firms list, a seven-year ranking of independent advisory firms, is qualitative and quantitative, including assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. Firms elect to participate but do not pay to be included in the ranking. Ranking awarded each September based on data within a 12-month period. Compensation is paid for use and distribution of the rating. Investor experience and returns are not considered. The 2018 ranking refers to Edelman Financial Services, LLC, which combined its advisory business in its entirety with Financial Engines Advisors L.L.C. (FEA) in November 2018. For the same survey, FEA received a precombination ranking of 12.

² Erman Retirement Advisory data, as of Feb. 9, 2022.

³ Edelman Financial Engines data, as of Dec. 31, 2021.

⁴ Edelman Financial Engines data, as of Sept. 30, 2022.

© 2022 Edelman Financial Engines, LLC. Edelman Financial Engines® is a registered trademark of Edelman Financial Engines, LLC. All advisory services provided by Financial Engines Advisors L.L.C., a federally registered investment advisor. Results are not guaranteed. See EdelmanFinancialEngines.com/patent-information for patent information. AM2633215

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