Edelman Financial Engines, one of the largest registered investment advisory firms, has acquired PRW Wealth Management, an RIA that provides a range of wealth management services, both companies announced Thursday.
PRW, which is headquartered in Quincy, Massachusetts, manages more than $500 million in assets under management and serves 200 clients, from families to business owners.
Earlier this year, Edelman acquired Align Wealth Management. It also acquired Erman Retirement Advisory, Hermann & Cooke and Smart Investor late last year.
“Growth through acquisition remains a key area of focus for EFE, and the firm expects activity will increase in the coming quarters as it continues conversations with strong partners,” the companies wrote in a statement.
Dan Seivert, chief executive at Echelon Partners, who served as transaction advisor to PRW Wealth Management, said the acquisition will be “highly beneficial” for both firms.
“Joining Edelman Financial Engines provides us with a depth of additional resources and the ability to maintain the feeling of a multifamily office,” Rick Renwick, co-founder of PRW, said in the release. “We look forward to delivering cost-effective and tax-efficient customized portfolios built upon the investment philosophy of Nobel Prize winner and Edelman Financial Engines co-founder Dr. William F. Sharpe.”
Edelman Financial Engines oversees $245 billion in assets for $1.3 million customers.
Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
The fintech firms' new tools and integrations address pain points in overseeing investment lineups, account monitoring, and more.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Carson is expanding one of its relationships in Florida while Lido Advisors adds an $870 million practice in Silicon Valley.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
