Edelman Financial Engines Elevates New President to CEO While Considering Long-Term Plans

Core Insights - Edelman Financial Engines has appointed Ralph Haberli as acting CEO while considering long-term leadership needs following the resignation of former CEO Jay Shah [2][3] - The firm manages over $308 billion in assets and aims to expand its wealth management services, particularly in defined contribution retirement plans [1][3] Leadership Changes - Former CEO Jay Shah will transition to an advisory role until the end of the year [2] - Ralph Haberli, who joined from Capital Group, will temporarily lead the firm and has full authority during this transition [3] Strategic Direction - Haberli emphasized the firm's unique position to support clients throughout their financial journey, from initial employment to retirement [4] - The company plans to pursue both acquisition and organic growth, leveraging its scale and technology to attract partners [5] Recent Developments - Under Shah's leadership, the firm made significant acquisitions, including two firms with assets totaling $726 million this year [6] - Edelman Financial Engines was formed through the merger of Ric Edelman's RIA and Financial Engines in 2018, with a minority stake acquired by Warburg Pincus in 2021 [5]