InvestmentNews Names Edelman Financial Engines Largest Fee-Only Investment Advisor

SANTA CLARA, Calif.--(BUSINESS WIRE)--Edelman Financial Engines has been named the nation’s largest independent Registered Investment Advisor by InvestmentNews for the second straight year.

InvestmentNews is a leading publication in the wealth management industry and ranks fee-based RIAs by their assets under management as of May 1, 2020. Of the 25 firms leading the ranking, Edelman Financial Engines is the largest in both total assets and discretionary assets under management, and has the smallest average account size – meaning the firm serves the greatest number of clients nationwide.

“The scale and reach of our platform, which combines technology-enabled portfolio management with personalized financial planning services, sets us apart from all others in the industry,” said Larry Raffone, chief executive officer of Edelman Financial Engines. “We are proud to have reached this level of success through our commitment to serving the millions of Americans who don’t have millions.”

“It’s a privilege to serve so many Americans, helping them plan for and achieve their financial goals,” said Ric Edelman, founder of Edelman Financial Engines, “and we are honored to be ranked #1 by InvestmentNews.”

Edelman Financial Engines provides financial planning and investment management advice to 1.2 million households. For more information, visit www.edelmanfinancialengines.com.

InvestmentNews Methodology

InvestmentNews qualified firms headquartered in the United States based on data reported on Form ADV to the Securities and Exchange Commission as of May 1, 2020. To qualify, firms must have met the following criteria: (1) latest ADV filing date is either on or after January 1, 2019, (2) total AUM is at least $100M, (3) does not have employees who are registered representatives of a broker-dealer, (4) provided investment advisory services to clients during its most recently completed fiscal year, (5) no more than 50% of amount of regulatory assets under management is attributable to pooled investment vehicles (other than investment companies), (6) no more than 25% of amount of regulatory assets under management is attributable to pension and profit-sharing plans (but not the plan participants), (7) no more than 25% of amount of regulatory assets under management is attributable to corporations or other businesses, (8) does not receive commissions, (9) provides financial planning services, (10) is not actively engaged in business as a broker-dealer (registered or unregistered), (11) is not actively engaged in business as a registered representative of a broker-dealer, (12) has neither a related person who is a broker-dealer/municipal securities dealer/government securities broker or dealer (registered or unregistered) not one who is an insurance company or agency. The number of clients nationwide is derived from Edelman Financial Engines analysis.

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 American 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 both InvestmentNews¹ and Barron’s² with 158 offices across the country and entrusted by more than 1.2 million clients to manage more than $220 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.

[1] Ranking and status for 2020. For independence methodology and ranking, see InvestmentNews Center (http://data.investmentnews.com/ria/).
[2] The 2019 Top 50 Independent Advisory Firm Ranking issued by Barron’s is qualitative and quantitative, including assets managed, the size and experience of teams, and the regulatory records of the advisers and firms. Firms elect to participate, but do not pay to be included in the ranking. Investor returns/experience are not considered.
[3] As of June 30, 2020.