Edelman Financial Engines targets smaller retirement-plan market under new CEO

what happened

Edelman Financial Engines, a wealth-management and retirement-plan firm with $325 billion in assets, is targeting small and midsize retirement plans under CEO Ralph Haberli. The company already has a foothold in that segment, Haberli said, but sees it as a meaningful opportunity to scale. In an interview with Barron's Advisor, he also discussed an equity-compensation program for advisors, whom the firm calls planners, and a team focused on converting prospects. He also explained the firm's recent $10 million pledge to a university in New Jersey.

Other items highlighted by Barron's included Fidelity Investments' decision to require registered investment advisors using its trading and custody platform to reach a $100 million asset minimum. Praxis Financial Partners, which oversaw $1.1 billion in client assets at Wells Fargo, moved to LPL Financial. Rockefeller Capital Management recruited a five-person team from Truist Advisory Services that managed about $1 billion. The Piedmont Wealth Partners team expands Rockefeller's presence in North Carolina.

Webull disputed a House Committee on China report alleging legal and surveillance risks linked to the brokerage's ties to China. Webull's stock fell 19% that day after the report was issued. Separately, Scott Davis of Capital Group discussed the growing use of actively managed ETFs in model portfolios. Barron's said the content was created by Barron's, operated by Dow Jones & Co., and published independently from Dow Jones Newswires and The Wall Street Journal.

why it matters

The roundup highlights competition for advisor assets, industry consolidation, ETF adoption and the market sensitivity of brokerage firms to regulatory and geopolitical scrutiny. Those themes are relevant to custodians, wealth managers and trading platforms.

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