Warburg Pincus Buys Stake in Edelman Financial Engines

The firm had $260 billion in AUM as of Dec. 31.

With the backing of Hellman & Friedman and Warburg Pincus, Edelman Financial Engines said it enters "its next phase of growth grounded in its unwavering mission to bring more financial help to the many that need and deserve it."

Larry Raffone, president & CEO of Edelman Financial Engines, said the "new investment from Warburg Pincus alongside the continued support from Hellman & Friedman demonstrates the abundance of opportunity ahead for our business. Our record growth in 2020 created momentum that has continued into 2021."

Michael Martin, Managing Director of Warburg Pincus, who will join Edelman's board, added in the statement that "We have a strong history with Edelman Financial Engines and are thrilled by this opportunity to invest in its continued growth in partnership with Hellman & Friedman."

Warburg Pincus believes that "the Edelman Financial Engines business model, which spans workplace retirement plan advice and traditional financial planning and investment management services, uniquely positions the firm to help millions of Americans reach their financial goals," Martin said.