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Edelman Financial Engines Announces Senior Leadership Changes

By: via Business Wire

Edelman Financial Engines (EFE) today announced the appointment of Ralph Haberli as Acting CEO. Mr. Haberli succeeds Jay Shah, who has decided to step down after an effective period in which he repositioned the business for growth. Mr. Shah will remain with EFE until year-end, serving in an advisory capacity.

Mr. Haberli currently serves as President of EFE, overseeing the firm’s wealth planning and workplace investment advisory businesses.

Edelman Financial Engines’ Board of Directors said: “Ralph has already proven himself a strong leader at Edelman Financial Engines, using his vast retirement and industry leadership experience to deliver even more value to our clients. His expertise will be invaluable as we aim to continue to unlock growth at scale, making advice more accessible through our unique market position and capabilities. Ralph is fully empowered to lead EFE forward as the Board evaluates the company’s long-term needs for the CEO role. We thank Jay for stewarding the firm’s continued growth and transformation over the last few years.”

A tenured financial services leader, Mr. Haberli has deep and broad expertise in serving defined contribution, institutional, and wealth management clients and advisers. Prior to joining EFE, Mr. Haberli was President of the Institutional and Retirement Client Group at Capital Group, and he previously held a range of senior leadership roles at BlackRock. Mr. Haberli started his career at the Boston Consulting Group.

Mr. Haberli said: “Together with our team, I am excited to build upon Edelman Financial Engines’ entrepreneurial legacy and innovative spirit to fuel growth and momentum across our workplace, retirement account advice, and wealth planning businesses. We know that financial planning is deeply personal, and our strength lies in serving clients at every stage of life—from their first paycheck through retirement—with advice that is both holistic and human-centered.”

During Mr. Shah’s tenure, EFE’s industry-leading wealth planning1 and workplace2 investment advisory businesses continued to make great strides. Mr. Shah assembled a deeply skilled and highly collaborative executive team, instituted a new business and growth strategy, and shepherded significant investments to modernize business operations and improve client experience, with industry-leading client satisfaction scores.

On his decision, Mr. Shah said: “It has been an honor to lead Edelman Financial Engines and the more than 1,600 dedicated employees who are united in our noble mission. I am proud of the strong foundation we’ve built, anchored to an exciting and strategic vision for our future, and of the progress we’ve already made to deliver on our strategy. I feel incredibly confident in Ralph and the expert leadership team we’ve assembled that will carry our strategy and unwavering service to our clients into the next era.”

About Edelman Financial Engines

Financial confidence begins with clarity, understanding, and a plan tailored to your life. At Edelman Financial Engines, we believe money is personal—tied to your hopes, your family, your future. That’s why since 1986, we’ve been committed to putting the clients’ best interest first, offering personalized investment advice and financial planning to help you feel secure and supported every step of the way. From your first paycheck through retirement, and for every major milestone and meaningful moment in between, we’re here for you.

As one of the nation’s leading independent financial planning and investment advisory firms1, we are trusted by 1.3 million clients to manage over $308 billion in assets. Our solutions are available through your employer or at our 140+ offices nationwide.3 We combine cutting edge technology with the personal care of a planner to deliver advice that fits your life—not just your finances.

1 The Barron’s 2025 Top 100 RIA Firms list, a ten-year ranking of independent advisory firms, is based on qualitative and quantitative factors. Firms elect to participate but do not pay to be included in the ranking. The 2025 ranking refers to EFE as the second-ranked mega RIA. EFE was ranked number one from 2018-2024.

2 According to the Cerulli Associates Top Nine Managed Account Sponsors by DC Assets survey of Defined Contribution managed account providers, The Cerulli Edge – U.S. Retirement Edition, 3Q 2025, Issue #76, Edelman Financial Engines is the largest managed account provider by DC assets and market share as of June 30, 2025.

3 Edelman Financial Engines data, as of June 30, 2025.

© 2025 Edelman Financial Engines, LLC. Edelman Financial Engines® is a registered trademark of Edelman Financial Engines, LLC. All advisory services provided by Financial Engines Advisors L.L.C., a federally registered investment advisor. Results are not guaranteed.

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