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Direct Investment  + Financial Advisory  + M&As  + Wealth Management  |  October 5, 2023
Edelman Buys $425M Oklahoma Wealth Manager
By: Joe Palmisano

Edelman Buys $425M Oklahoma Wealth Manager

Santa Clara, CA-based investment advisory giant Edelman Financial Engines (EFE) announced its first deal of 2023 with the acquisition of Align Wealth Management, a $425 million registered investment advisor based in Oklahoma City.

Align, led by Brian Puckett and Dennis Packard, also has an office in St. Petersburg, FL, which will provide EFE a stronger foothold in two crucial markets.

“Their (Align) approach to holistic wealth management fits well with our broad suite of capabilities and commitment to serving clients who can benefit from advanced services, including retirement, tax and estate planning support,” said Suzanne van Staveren, EVP, CFO and COO at Edelman.

According to EFE, M&A remains a key area of strategic growth for the firm and expects activity will increase in the coming quarters.

This transaction follows EFE’s acquisitions of Erman Retirement Advisory, Herrmann & Cooke and Smart Investor in 2022, bringing in a total of nearly $1.4 billion in assets; and $846 million Viridian Advisors in 2021.

These acquisitions expanded EFE’s wealth planning presence in both Northern California and the Pacific Northwest.

Founded in 1986, Boston-based Edelman has more than $250 billion in assets from 1.3 million clients across 145 offices. The company is majority owned by private equity firm Hellman & Friedman.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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