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Direct Investment  + Financial Advisory  + M&As  + Wealth Management  |  October 5, 2023
Edelman Buys $425M Oklahoma Wealth Manager
Joe Palmisano
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 of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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