SANTA CLARA, Calif.--(BUSINESS WIRE)--Edelman Financial Engines has been named the nation's top independent Registered Investment Advisor (RIA) by Barron's for the third straight year.
Barron’s ranked RIAs based on their assets under management, revenue and quality of practice. This year, the publication expanded its ranking formula to include metrics such as technology spending, staff diversity and succession planning.
"We are proud of our standing as America’s top RIA," said Larry Raffone, President and CEO of Edelman Financial Engines. "Throughout this historically challenging year, with all the economic uncertainty and market turbulence we have faced, our team continued to focus every day on serving the needs of our clients, the millions of Americans who don't have millions. I am incredibly proud of our team for helping our clients navigate these uncharted waters to achieve their financial goals."
"It is a privilege to be recognized by Barron’s, not just for our size, but also for qualitative factors related to our staff and our innovative use of technology," added Ric Edelman, founder of Edelman Financial Engines.
For more information about Edelman Financial Engines, please visit www.edelmanfinancialengines.com.
Methodology
The Barron's rankings are based on data compiled from a 102-question survey applied to their formula. The formula features three major categories based on their 3Q numbers, including (1) assets, (2) revenue, and (3) quality of practice. To be considered for the rankings, firms must be SEC-registered and have a minimum AUM of $300m. This year, the formula also included data on technology spending, staff diversity and succession planning.
About Edelman Financial Engines
Since 1986, Edelman Financial Engines has been committed to always acting in the best interest of our clients. We were founded on the belief that all American investors – not just the wealthy – deserve access to personalized, comprehensive financial planning and investment advice. Today, we are America’s top independent financial planning and investment advisor, recognized by both InvestmentNews1 and Barron’s2 with 150+ offices across the country and entrusted by more than 1.2 million clients to manage more than $220 billion in assets.3 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.
[1] Ranking and status for 2020. For independence methodology and ranking, see InvestmentNews Center (http://data.investmentnews.com/ria/).
[2] The 2020 America’s Best RIA Firms Independent Advisory Firm Ranking issued by Barron’s is qualitative and quantitative, including assets managed, technology spending, staff diversity, succession planning, the size and experience of teams, and the regulatory records of the advisors and firms. Firms elect to participate, but do not pay to be included in the ranking. 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.
[3] As of June 30, 2020.
