Edelman Financial Engines is stillin the earliest stage of developing a platform that can beintegrated with human advisers to access the more than 1 millionplan participants currently serviced on the Financial Engines side.(Photo: Shutterstock)
When it was announced last spring that Hellman & Friedman,the private equity firm that already owned a majority stake inEdelman Financial Services, was throwing down $3 billion in cash totake 401(k) provider Financial Engines private, one prominentindustry voice predicted the deal would present anexistential threat to trillions of dollars in potential IRA rollovers.
“It may mean the beginning of the end of the giant 401(k)rollover bonanza that powers so much growth in the advice businesstoday,” wrote Michael Kitces, a partner with Pinnacle AdvisoryGroup and publisher of the Nerd's Eye View blog.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
