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Financial Engines, Edelman to join : Private-equity firm Hellman & Friedman's $3B deal reflects growing importance of fintech

May 07, 2018 - InvestmentNews

The $3.02 billion acquisition of Financial Engines announced April 30 is likely to spur more interest on the part of private equity to bring together long-standing advice firms with robo-advisers, experts said.

The acquirer, private-equity shop Hellman & Friedman, said April 30 it would combine Financial Engines with Edelman Financial Services, a registered investment adviser in which it holds a majority share.

TRADITIONAL RIA

Edelman is one of the largest firms in the traditio...