Edelman Financial Engines says it has acquired registered investment advisor firm Smart Investor, which has more than $680 million in client assets.
Roseville, California-based Smart Investor serves both individual clients and small businesses, according to Edelman.
The acquisition, which closed on Monday, extends Edelman’s presence in the Northwest, building upon its 2021 acquisition of Viridian Advisors, an $846 million firm based in Washington.
It also gives Edelman five new employees from Smart Investor, including two planners and three support staff — all of whom will remain in its Roseville headquarters and Woodland, California office, according to a spokesperson.
“In our current backdrop of historic inflation, rapidly rising interest rates and market volatility, the need for high-quality, independent financial planning that is centered on the client’s best interests has never been greater,” Jason Van de Loo, head of wealth planning and marketing at Edelman, said in a statement.
“Together with the Smart Investor team, we can help more individuals and families navigate through these uncertain times and build a strong financial future,” Van de Loo added.
Do you have a news tip you’d like to share with FA-IQ? Email us at email@example.com.