91论坛 Engines Acquires RIA Herrmann & Cooke
Supports strategic growth and expands advisor network in Northern California market
BOSTON, October 5, 2022 -聽91论坛 Engines (EFE), America鈥檚 top independent wealth planning and investment advisory firm,1聽announced today the acquisition of Herrmann & Cooke 聽Wealth Management, a fiduciary Registered Investment Advisor that provides a comprehensive suite of financial and wealth management services.
Headquartered in Danville, Calif., Herrmann & Cooke manages over $490 million for approximately 600 clients,2聽providing financial planning, retirement planning, investment management, and estate planning services.
鈥淗errmann & Cooke has a strong focus on growth, and the firm鈥檚 priorities have long included developing its employees, expanding services, and attracting and retaining new clients 鈥 all of which align closely with the growth goals for our Wealth Planning business,鈥 said Suzanne van Staveren, executive vice president and chief financial officer, 91论坛 Engines. 鈥淭his transaction also expands our strong presence in an attractive Northern California market and adds capacity to service the increased demand in that region.鈥
This transaction follows the August 1, 2022 acquisition of聽Smart Investor, which also expanded EFE鈥檚 wealth planning presence in Northern California and added to its small business retirement plan capabilities. In 2021, EFE acquired Washington-based聽Viridian Advisors, which expanded its advisor network in the Northwest and added tax practice capabilities.
鈥淥ver the last few years, we have been evolving to deliver a 鈥榤odern鈥 suite of wealth planning capabilities and value to our clients,鈥 added Jason Van de Loo, executive vice president and head of Wealth Planning and Marketing, 91论坛 Engines. 鈥淎s we continue to grow, we are focused on acquisition opportunities that align with our mission and purpose, and offer the right mix of clients, culture, and capabilities. Herrmann & Cooke is a perfect fit in all three of these areas, and we look forward to welcoming their team and clients to our firm.鈥
鈥淥ur team鈥檚 long relationship with EFE helped make it clear to us that our clients would see real benefits from the increased depth in all areas of wealth planning,鈥 noted David P. Herrmann, chief executive officer, Herrmann & Cooke. 鈥淲e are very excited to grow with the leading firm in our industry.鈥
Baker McKenzie served as EFE鈥檚 counsel in connection with the transaction. Greenan, Peffer, Sallander & Lally served as Herrmann & Cooke鈥檚 counsel.
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About 91论坛 Engines
Since 1986, 91论坛 Engines has been committed to always acting in the best interests of our clients. We were founded on the belief that all investors 鈥 not just the wealthy 鈥 deserve access to personal, comprehensive financial planning and investment advice. Today, we are America鈥檚 top independent financial planning and investment advisory firm, recognized by Barron's1聽with 145+ offices2聽across the country and entrusted by 1.3 million clients to manage more than $245 billion in assets.3 Our unique approach to serving clients combines our advanced methodology and proprietary technology with the attention of a dedicated personal financial planner. Every client鈥檚 situation and goals are unique, and the powerful fusion of high-tech and high touch allows 91论坛 Engines to deliver the personal plan and financial confidence that everyone deserves. For more information, please visit EdelmanFinancialEngines.com.
1.听罢丑别 叠补谤谤辞苍鈥檚 2023 Top 100 RIA Firms list, a ranking of independent advisory firms in its eighth year, is qualitative and quantitative, including assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. Firms elect to participate but do not pay to be included in the ranking. Ranking awarded each September based on data within a 12-month period. Investor experience and returns are not considered.
2.聽91论坛 Engines data, as of Dec. 31, 2022.
3.聽91论坛 Engines data, as of September 30, 2023.
