Edelman Financial Engines today announced that it has acquired Align Wealth Management (Align), an Oklahoma City, Okla.-based registered investment advisor with about $425 million in assets, according to a news release.
Led by Brian Puckett and Dennis Packard, the firm also has an office in St. Petersburg, Fla. It provides nearly 360 clients with a wide range of wealth management and financial planning services including investment management, tax planning, retirement planning and estate planning, the release noted.
Puckett began his career in the industry in 2002 with Cambridge Investment Research where he worked for almost four years before joining Align in 2006, according to BrokerCheck. Packard began with TD Waterhouse Investor Services in 2003. He joined Align in 2006.
“Joining Edelman Financial Engines will allow our planners to spend more time delivering high-touch services to clients while getting greater support with administrative and time-consuming back-office tasks,” Puckett said in a statement. “It also provides growth opportunities for our team to be part of an industry leading firm that has a nationwide footprint yet is much nimbler than the largest shops – a perfect fit for the clients who need our help.”
Added Packard: “For the last 30 years we’ve operated under the philosophy that our clients’ interests always come first, and we’ve found a partner in Edelman Financial Engines that shares our client focused commitment.”
The release noted that M&A remains a key area of strategic growth for Edelman Financial Engines, and it expects activity will increase in the coming quarters. Last year, the firm acquired three California-based RIAs: Erman Retirement Advisory, Hermann & Cooke and Smart Investor. In 2021, it bought Viridian Advisors in Bothell, Wash.
Suzanne van Staveren, executive vice president, chief financial officer and chief operating officer at Edelman Financial Engines, said Align’s focus on putting its clients first fits perfectly with the culture at Edelman Financial Engines. “In addition, their approach to holistic wealth management fits well with our broad suite of capabilities and commitment to serving clients who can benefit from advanced services, including retirement, tax and estate planning support,” she said.
Founded in 1986, Boston-based Edelman has more than $250 billion in assets from 1.3 million clients across 145 offices. The company is majority owned by private equity firm Hellman & Friedman.