Edelman Financial Engines Acquires New England Pension Plan Systems

Edelman Financial Engines, a leading registered investment advisor and retirement plan advisor, has announced its acquisition of New England Pension Plan Systems (NEPPS). With assets totaling $1.5 billion, NEPPS is based in Providence, R.I.

A Strategic Move towards Expansion

This acquisition represents Edelman Financial Engines' largest transaction by asset count since the company launched its merger and acquisition campaign in 2021. The addition of NEPPS will significantly enhance Edelman's portfolio and consolidate its position in the industry.

Expertise in Retirement Plan Consulting Space

NEPPS specializes in providing consulting and advisory services for retirement plans and employee benefit plans. Moreover, it offers retail wealth management services through its affiliated RIA, New England Investment Consultants.

A Perfect Fit for Edelman's Growing Platform

Suzanne van Staveren, Executive Vice President, CFO, and COO of Edelman Financial Engines, believes that NEPPS brings valuable expertise and capabilities to their platform. She describes the deal as a perfect complement to the broader platform that Edelman is constructing.

Meeting the Needs of Small Business Owners

Staveren notes that there is an increasing demand from small business owners for guidance on managing their companies' retirement plans. This acquisition will enable Edelman Financial Engines to better serve this market segment and solidify its position as a go-to provider for small employers and retirement plans.

Strengthening Presence in the New England Market

In addition to expanding their business line, the acquisition of NEPPS will enhance Edelman's presence in the New England market. This strategic move demonstrates Edelman Financial Engines' commitment to growth and its mission to cater to the evolving needs of its clients.

NEIC Reports $380 Million in Assets Under Management by Individual Investors

NEIC, a registered investment advisor (RIA), has disclosed that individual investors hold over $380 million in assets under its management, according to its recent Form ADV regulatory filing. The majority of these assets belong to high-net-worth clients. Additionally, NEIC holds an additional $632 million in assets under management for retirement plans.

Strong Cultural Alignment with NEPPS

Sergio DeCurtis, CEO of NEPPS, emphasizes the cultural synergy resulting from this partnership. The shared focus on prioritizing client needs extends to both retirement plan clients and individual wealth planning clients. The cohesive approach to client service, education, financial planning, and investment management makes this combination a perfect fit.

Edelman's Strategic Acquisition Strategy

Edelman, named the top RIA on the 2023 Advisor list, has recently increased its merger and acquisition (M&A) activity. While not as active in acquiring firms as some of its peers in the top 10, Edelman plans to continue discussions with potential partners in the coming year.

Recent Acquisitions Expand Edelman's Reach

In recent announcements, Edelman has successfully acquired PRW Wealth Management and Align Wealth Management. These two firms, based in Massachusetts and Oklahoma respectively, collectively managed assets exceeding $900 million.