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Ric Edelman removes a major impediment to his firm's future growth--himself--the last act in a 36-year career that will leave Edelman Financial Engines to fend for itself

It must 'demonstrate that it can operate and grow without me,' says Edelman, who pulled the trigger on his departure, following the company's recapitalization.

Tuesday, July 6, 2021 – 2:32 PM by Lisa Shidler
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Ric Edelman with wife Jean are cutting the cord to their firm after 36 years in the RIA business.

Related Moves

John Bunch is out at Financial Engines Advisors after merger integration 80% complete; 'big reveal,' relaunch planned in coming months

The No. 2 man at the $181-billion RIA built a uniform client experience, but now has a chance to be CEO of VC-backed firm based in his hometown

July 11, 2019 – 4:26 AM

How Edelman Financial Engines spin-off deal became a RetireOne engine that's heating up the RIA annuity game again

The fee-based annuities marketplace of Aria Retirement Solutions adds Edelman's broker-dealer, 6,000 clients, 'hundreds of millions' in client assets and an old hand

November 20, 2019 – 10:19 PM


Mentioned in this article:

Financial Engines
401k Plan Consultant




Bill slash

Bill slash

July 7, 2021 — 12:15 PM
They seemed to go from fee only to fee based with added costs. They were anti annuity in most cases. Now embracing them. Net net Looking to get more revenue from people.?
James Helminski

James Helminski

August 26, 2021 — 2:01 PM
I have been a long time investor with Ric Edelman, probably one of the first investors with his company. I was shocked and completely taken by surprise when I reviewed my on line accounts and only learned by looking at my the Edelman Financial Engines APP that my financial advisor and team "Jan Kowal" were no longer my financial advisor team after 25-plus years, and were also no longer employed with the Edelman company. I was "assigned" someone I have no relationship with, no data or resume about, not given any prior notification or a courtesy call. This leave our longtime investments and financial future with numerous questions. The above article seems to exalt the business acumen and prowess of Ric Edelman but leaves the people that got him to his present comfortable stature (his clients and investors) behind as an afterthought. The present company when questioned, gives the impression that Ric Edelman is still actively involved with day-to-day operations, but a closer look indicates otherwise. Ric and most of his team have left the building. So where does that leave us, who have put our life savings into the trust we have built with him? Your article does little to instill the full confidence we who have money and skin in the new organization that was once Edelman Financial. This could have been handled so much better. Transparency could have been a starting point.
I'm surprised

I'm surprised

September 14, 2021 — 4:30 PM
I had thought Edelman was pretty savvy. But cryptocurrencies?? He's officially gone off his rocker.
Mort

Mort

December 7, 2021 — 9:19 PM
I have been moving into cryptos and will continue to do so while following Ric’s advice. Ric hasn’t gone off his rocker but instead has demonstrated, once again, that “Slick Ric” is out ahead of the curve and building equity for his clients.
Hans Vandertouw

Hans Vandertouw

January 29, 2022 — 5:58 PM
My understanding of cryptocurrency is this! Cryptocurrency is basically nothing. It is intangible. You can’t see it or touch it. It is only a digital number on a computer screen. If you forget your password or can’t find it, you can no longer access you account and lose what was yours. There is absolutely nothing that backs cryptocurrency! There are only people who “buy” and “sell” something that doesn’t exist and “supply or demand” is what determines the price! It sounds like a snake oil sales man transaction to me!
brooke southall

brooke southall

January 29, 2022 — 8:04 PM
Hans, I don't really disagree with you but...all those things can also be said of credit card transaction s and conventional currency. It's all...digital these days.
Dennis B Johnson

Dennis B Johnson

March 10, 2022 — 5:20 PM
Apparently, the time has come to reprogram your computer for growth instead of loss...

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