Edelman Financial Engines Acquires RIA Herrmann & Cooke

Supports strategic growth and expands advisor network in Northern California market

BOSTON–(BUSINESS WIRE)–Edelman Financial Engines (EFE), America’s top independent wealth planning and investment advisory firm,1 announced today the acquisition of Herrmann & Cooke Wealth Management, a fiduciary Registered Investment Advisor that provides a comprehensive suite of financial and wealth management services.

Headquartered in Danville, Calif., Herrmann & Cooke manages over $490 million for approximately 600 clients,2 providing financial planning, retirement planning, investment management, and estate planning services.

“Herrmann & Cooke has a strong focus on growth, and the firm’s priorities have long included developing its employees, expanding services, and attracting and retaining new clients – all of which align closely with the growth goals for our Wealth Planning business,” said Suzanne van Staveren, executive vice president and chief financial officer, Edelman Financial Engines. “This transaction also expands our strong presence in an attractive Northern California market and adds capacity to service the increased demand in that region.”

This transaction follows the August 1, 2022 acquisition of Smart Investor, which also expanded EFE’s wealth planning presence in Northern California and added to its small business retirement plan capabilities. In 2021, EFE acquired Washington-based Viridian Advisors, which expanded its advisor network in the Northwest and added tax practice capabilities.

“Over the last few years, we have been evolving to deliver a ‘modern’ suite of wealth planning capabilities and value to our clients,” added Jason Van de Loo, executive vice president and head of Wealth Planning and Marketing, Edelman Financial Engines. “As we continue to grow, we are focused on acquisition opportunities that align with our mission and purpose, and offer the right mix of clients, culture, and capabilities. Herrmann & Cooke is a perfect fit in all three of these areas, and we look forward to welcoming their team and clients to our firm.”

“Our team’s long relationship with EFE helped make it clear to us that our clients would see real benefits from the increased depth in all areas of wealth planning,” noted David P. Herrmann, chief executive officer, Herrmann & Cooke. “We are very excited to grow with the leading firm in our industry.”

Baker McKenzie served as EFE’s counsel in connection with the transaction. Greenan, Peffer, Sallander & Lally served as Herrmann & Cooke’s counsel.

About Edelman Financial Engines

Since 1986, Edelman Financial Engines has been committed to always acting in the best interests of our clients. We were founded on the belief that all investors deserve access to personal, integrated financial planning and investment advice. Today, we are America’s top independent financial planning and investment advisory firm, as recognized by Barron’s for five consecutive years,1 with 145+ offices3 across the country and entrusted by more than 1.3 million clients to manage $241 billion in assets.4 Our unique approach to serving clients combines our advanced methodology and proprietary technology with the attention of a dedicated personal financial planner. Every client’s situation and goals are unique, and the powerful fusion of high-tech and high touch allows Edelman Financial Engines to deliver the personal plan and financial confidence that everyone deserves. For more information, please visit EdelmanFinancialEngines.com.

1 The Barron’s 2022 Top 100 RIA Firms list, a ranking of independent advisory firms, is qualitative and quantitative, including assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. Firms elect to participate but do not pay to be included in the ranking. Ranking awarded each September based on data within a 12-month period. Compensation is paid for use and distribution of the rating. Investor experience and returns are not considered. The 2018 ranking refers to Edelman Financial Services, LLC, which combined its advisory business in its entirety with Financial Engines Advisors L.L.C. (FEA) in November 2018. For the same survey, FEA received a precombination ranking of 12th.

2 Herrmann & Cooke data, as of Dec. 31, 2021.

3 Edelman Financial Engines data, as of Dec. 31, 2021.

4 Edelman Financial Engines data, as of June 30, 2022.

© 2022 Edelman Financial Engines, LLC. Edelman Financial Engines® is a registered trademark of Edelman Financial Engines, LLC. All advisory services provided by Financial Engines Advisors L.L.C., a federally registered investment advisor. Results are not guaranteed. AM2456146

Contacts

Edelman Financial Engines

PRTeam@EdelmanFinancialEngines.com

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