EFE’s Shah Steps Down; Firm Appoints Acting CEO

Edelman Financial Engines (EFE) has appointed Ralph Haberli as acting CEO.

Haberli succeeds Jay Shah, who has decided to step down after an effective period in which he repositioned the business for growth. Shah will remain with EFE until year-end, serving in an advisory capacity.

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

Prior to joining EFE, 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. Haberli started his career at the Boston Consulting Group.

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.”

On his decision, 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.”’

Next Page: ICI Elects Invesco CEO to Board Chair