Edelman Financial Engines financial advisors: what you need to know
This review will examine Edelman Financial Engines, outlining its fees, services, technology, and key pros and cons.
Summary
As of December 2023, Edelman Financial Engines had 1.3 million clients and total assets under management (AUM) of over $270 billion.
Edelman Financial Engines' average fee ranges from 0.5% to 1.75% annually, depending on the selected services and portfolio size.
Unbiased can help you find a qualified financial advisor for expert financial advice.
Edelman Financial Engines financial advisors: who are they?
Edelman Financial Engines is a prominent financial advisory firm in the United States.
Assets Under Management:
$270 billion+
Fee:
0.50%-1.75%
Fee Structure:
Fee-only
The firm is known for its personalized approach to retirement planning and wealth management services. Ric and Jean Edelman co-founded it in 1986 when it was called Edelman Financial Services.
In 2005, they sold a majority stake of their firm to a holding company, which later merged with Financial Engines. Today, the firm is known as Edelman Financial Engines.
What does Edelman Financial Engines do?
Edelman Financial Engines comprises a team of seasoned professional advisors who provide tailored advice to help clients reach their financial goals.
Edelman Financial Engines advisors offer comprehensive financial planning, investment management, and retirement income solutions by combining technology with a personal touch to serve clients across various life stages.
What are the pros and cons of Edelman Financial Engines?
When considering the firm, it's important to consider the Edelman Financial Engines' benefits and cons.
Here are a few to consider:
| Pros of Edelman Financial Engines: |
|---|
| Pros of Edelman Financial Engines: |
| Comprehensive retirement planning |
| Access to experienced financial advisors |
| Personalized investment strategies |
| Strong reputation and industry presence |
| Cons of Edelman Financial Engines: |
|---|
| Cons of Edelman Financial Engines: |
| Higher fees compared to some of its competitors |
| There is a $5,000 household minimum account size, which may deter smaller investors |
What financial services do Edelman Financial Engines offer?
Edelman Financial Engines' financial services are designed to help clients direct their way to secure financial futures.
Their services include:
Retirement planning
Investment management
Wealth management
Financial planning
Tax planning
Estate planning
Insurance guidance
Edelman Financial Engines advisors specialize in creating personalized strategies to help clients ensure long-term financial security.
Their goal is to provide clients with peace of mind, knowing their financial future is in expert hands.
What fees do Edelman Financial Engines charge?
Edelman Financial Engines employs a wrap fee model for their services, which includes services specific to the program selected.
Edelman Financial Engines' cost model is personalized according to each client's investment criteria and goals. The wrap fee rate depends on the client's total assets under management, and the firm might negotiate these rates under special conditions.
Here's the client fee schedule for Edelman Financial Engines:
| Asset | Fee Rate |
|---|---|
| Asset | Fee Rate |
| $0 to $400,000 | 1.75% |
| $400,000 to $750,000 | 1.25% |
| $750,000 to $1 million | 1.00% |
| $1 million to $3 million | 0.75% |
| $3 million to $10 million | 0.60% |
| $10 million to $25 million | 0.50% |
| Over $25 million | Negotiable |
Clients might have to pay additional costs for services outside the fee model, such as financial planning or personalized investment strategies.
What technology do Edelman Financial Engines use?
Edelman Financial Engines leverages advanced technology to underpin its service offerings.
Its advisors use advanced technology to aid them in creating personalized financial plans and investment strategies tailored to each client's goals and risk tolerance.
Their online platform allows clients to track their progress, view account balances, and receive real-time updates on their investments.
Additionally, Edelman Financial Engines benefits those on the go, as it has an easy-to-access mobile app, ensuring clients can manage their finances anywhere and at any time.
Edelman Financial Engines' integration of technology with human advisors helps deliver a well-rounded client experience.
Edelman Financial Engines security: is it secure?
Edelman Financial Engines takes security seriously. They employ industry-standard encryption to protect client data and ensure all transactions remain secure.
Additionally, they stick to strict privacy policies and regulatory standards to safeguard personal and financial information.
The firm monitors its systems for potential threats and vulnerabilities, ensuring client accounts remain secure.
With these robust security measures in place, clients can feel confident that their financial information is well-protected.
Do Edelman Financial Engines have good customer service?
The firm offers personalized support through a team of dedicated Edelman Financial Engines advisors at some of their centers. These advisors are available to answer questions and provide guidance.
Clients can access support via phone, email, or through their online platform or app.
The firm states it is dedicated to providing timely and accurate assistance, helping clients easily navigate their financial plans.
Get expert financial advice
Edelman Financial Engines offers personalized financial advice by leveraging technology and experienced advisors to help clients secure their financial futures.
For expert financial advice, let Unbiased help you find a financial advisor who can assist you on your journey to financial freedom.
Writers
Our team of writers, who have decades of experience writing about personal finance, including investing and retirement, are here to help you find out what you must know about life’s biggest financial decisions.