“We aspire to develop an apprenticeship for talent within our organization that wants to grow into the planner role,” he said. “Considering how we grow the next generation of talent creates interesting challenges for us.”
Gradual Inorganic Growth
Don’t expect Edelman Financial Engines to become a big merger-and-acquisition powerhouse or an aggregator of RIAs.
“We think of M&A less transactionally and more strategically,” said Van de Loo. “We’re looking for the right client, capability and culture.”
Over the past 18 months, the firm has made its first handful of acquisitions, starting with Viridian Advisors, a Washington state-based RIA and tax planning firm, which Edelman Financial Engines acquired in May 2021.
More recently, the firm acquired $680 million AUM Smart Investor and $490 million AUM Herrmann & Cooke Wealth Management, both northern California-based RIAs.