Aboon Secures $17.5M Funding Round, EFE’s Shah Steps Down
Aboon Secures $17.5M Funding Round
Aboon, an AI-powered platform for 401(k) plan management, announced that is has gained $17.5 million in seed funding.
The financing was led by Bain Capital Ventures, with participation from Altai Ventures, Runyon, Edward Jones Ventures, Outpost Ventures, and EJF Ventures.
“We built Aboon because we saw how hard it was for advisors to offer retirement plans, and how many businesses were left behind as a result,” said Nick Gavronsky, CEO and co-founder of Aboon. “Aboon was built on a belief that every American worker deserves a path to retirement, and the best way to get there is through the trusted advisor network that already supports business owners. We are changing the game for financial advisors by putting the tools they need in their hands.”
Aboon is a digital third-party administration (TPA) platform aimed at helping financial advisors design, launch and manage 401(k) plans for their business owner clients by combining automation and human expertise.
Since its founding in 2023, Aboon has partnered with national advisory firms like Edward Jones and with major recordkeepers including Capital Group, Empower, and Manulife John Hancock.
Next Page: EFE’s Shah Steps Down; Firm Appoints Acting CEO
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
ICI Elects Invesco CEO to Board Chair
The Board of Governors of the Investment Company Institute (ICI) elected Andrew Schlossberg, president and chief executive officer of Invesco Ltd., as its new chair. George H. Walker, chairman and chief executive officer of Neuberger Berman, will serve as ICI’s vice chair, having just concluded a two-year term as ICI’s chair.
“As ICI’s chair, I will aim to ensure the Board remains focused on strengthening our industry’s ability to serve individual investors in an evolving landscape, including by keeping pace with market and technology innovation,” said Schlossberg.
“The industry at large benefits from bringing our leaders together on the ICI Board. As we open new markets for investors, I look forward to ICI continuing to shape the policies and regulation surrounding asset management in a way that prioritizes the investors we serve at this pivotal moment,” said Walker.
Next Page: Daybright Financial Unveils AI Benefits Suite
Daybright Financial Unveils AI Benefits Suite
Daybright Financial launched a new suite of AI-powered employee benefits education, communications, and enrollment decision support tools.
AI Benefits Solutions Include:
- AI-Powered Benefits Guides – Generate clear, branded summaries from complex plan documents.
- AI-Powered Benefits Microsites – Transform benefits content into a user-friendly, branded portal.
- AI-Integrated Personalized Communication Campaigns – This includes automated, personalized email and text campaigns.
- AI-Powered Decision Support – A support tool aimed at guiding employees in selecting and using health, retirement, and voluntary benefits.
- AI-Powered Benefits Assistants That include text, call, or email support.
“This launch is designed to further our mission to simplify health and financial wellness, enabling better choices for all, today and tomorrow,” said Meg Schneider, CEO of Daybright Financial. “By simplifying often complex and underutilized benefits with modern, user-friendly resources powered by AI, we’re helping our clients focus on what matters most—their people and their business, not tedious benefits administration.”
Next Page: Carnegie Acquires AHL Investment Management
Carnegie Acquires AHL Investment Management
Carnegie Investment Counsel, an independently owned registered investment advisor (RIA) with $7 billion in assets under management (AUM), is acquiring AHL Investment Management.
The Florida-based wealth management firm has approximately $220 million in AUM and is led by Founder and Owner Ric Ahl. The acquisition, effective as of October 1, is said to broaden Carnegie’s national presence.
“Welcoming AHL Investment Management to the Carnegie family is an exciting step forward in our 50-year journey of growth and mission driven wealth management”, said Richard Alt, CEO and principal of Carnegie. “Rick and his team join our firm not only with valuable expertise and trusted client relationships, but also a culture and financial planning philosophy that mirrors our own. This alignment in values strengthens the foundations of our firm for long term success.”
“Joining Carnegie gives us the tools and support to elevate the way we serve our clients,” said Ahl. “Since founding 26 years ago, AHL has been built from the ground up, and I’m incredibly proud of the relationships we’ve fostered and the trust our clients have placed in us. This next chapter with Carnegie will allow us to develop our service capabilities, while also maintaining the high-touch, values-driven approach that has defined our firm.”
Next Page: Nationwide Names IMG Leader
Nationwide Names IMG Leader
Craig Hawley, president of Nationwide Financial, announced today that Joseph Aniano has been named leader of its Investment Management Group (IMG), effective immediately. He succeeds Kevin Jestice, who was recently appointed leader of Nationwide Retirement Solutions.
With more than 25 years of experience in financial services, Aniano brings expertise across investment, distribution and operations functions, including leadership of SEC and FINRA-regulated entities.
“Joe is a proven leader who understands how to drive transformation while fostering a culture of transparency, trust and collaboration,” said Hawley. “His ability to align strategy with execution and his passion for delivering exceptional outcomes through engaged teams make him the right choice to lead IMG into its next chapter.”
Prior to this role, Aniano served as president of Nationwide Securities, LLC (NSLLC), where he led the firm’s direct-to-consumer and business partner investment and advice solutions. He also led IMG Product Lifecycle Management, overseeing the strategic direction and advancement of sub-advised investment solutions across mutual funds, variable insurance funds, collective investment trusts and ETFs. Before joining Nationwide, Aniano held leadership roles at UBS, including head of Investment Management Research, and also worked at BBR Partners and Morgan Stanley earlier in his career.
Aniano holds a bachelor’s degree in business administration with a concentration in finance from Marist University and an MBA from Adelphi University. He maintains FINRA Series 7, 24, 66 and 99 licenses and holds the Certified Investment Management Analyst (CIMA) designation.
Next Page: ShareBuilder 401k Reaches 20 Years
ShareBuilder 401k is celebrating its 20th anniversary.
“We are incredibly proud to celebrate two decades of helping Americans save for retirement,” said Stuart Robertson, CEO of ShareBuilder 401k. “Our journey has been a testament to our commitment to innovation and accessibility, and we look forward to continuing our mission of helping people save for their own and their teams’ retirements for many years to come.”
Looking ahead, ShareBuilder 401k plans to introduce new services, including 3(16) services in its bundled offerings, to further simplify plan administration and help even more Americans build wealth.
“We want to extend a special thank you to all our thousands of clients across all 50 states, especially the 60 plans that have been with us since the very beginning,” said Robertson. “Cheers to the next 20 years of helping you and your team save for a financially secure retirement!”
Next Page: Cetera Acquires Pillar Financial Group
Cetera Acquires Pillar Financial Group
Cetera today announced the addition of Pillar Financial Group, led by seven partners including CEO Luke Madsen and a 34-member advisory team. The Seattle-based firm brings approximately $1.8 billion in assets under administration (AUA) including over $500 million in retirement plan assets and has joined the Cetera Advisors community.
The firm moved to Cetera from Northwestern Mutual Investment Services, LLC.
Pillar Financial Group is a multigenerational, planning-centric, fiduciary firm that creates customized financial plans. The team serves individuals, families, and businesses across their communities and has expanded through both organic growth and acquisitions.
“We wanted a firm we could grow with, and Cetera’s leadership team not only shares our vision but has the scale and focus on technology to support our growth for the long term,” said Madsen. “While many large broker-dealers are navigating mergers and acquisitions, Cetera’s measured approach to growth ensures we’ll receive the personalized attention we need to focus on our clients. For us, that was the deciding factor.”
Cetera Advisor Channel Leader Tom Halloran welcomed Pillar Financial Group, saying: “Luke and his team are deeply principled and client-first. They value independence and want the flexibility of an open architecture, which Cetera provides in contrast to the more restrictive insurance model. We’re eager to support Pillar Financial Group as they expand capabilities and serve a growing base of high-net-worth clients.”
Next Page: Beacon Pointe Advisors Buys Sensible Financial Planning
Beacon Pointe Advisors Buys Sensible Financial Planning
Beacon Pointe Advisors is expanding its east coast presence with the acquisition of Sensible Financial Planning, a wealth management firm headquartered in Waltham, MA. The addition bolsters Beacon Pointe’s network in the greater Boston area and adds approximately $944M in assets under management, bringing the firm’s total assets under advisement (AUA) to roughly $54 billion.
With its bicoastal offices in Waltham, MA, and San Diego, CA, Sensible Financial Planning serves clients nationwide, providing services that include retirement planning, tax strategies, insurance analysis, estate and legacy planning, and integrated investment management.
Partner and Managing Director Rick Miller, notes, “We built the firm to help clients with financial planning problems. We have offered straightforward, efficient investment portfolios and clear financial plans that clients can understand intuitively. Clients have found value in our approach, as evidenced by our growth to over 350 clients and approximately $1 billion in assets under advice. We are keeping our offices, our team, and our clients.”
Partner and Managing Director Rick Fine adds, “While most things will not change, we are looking forward to the advantages of being part of a larger firm. Beacon Pointe will be a good home where our clients can thrive, and our staff can grow professionally.”
The acquisition of Sensible Financial Planning formally closed on October 1, 2025. Advisor Growth Strategies acted as the advisor for the Sensible Financial Planning transaction. With this transaction, Beacon Pointe Advisors now oversees approximately $54 billion in client assets, supported by over 600 employees across more than 75 offices nationwide.
Next Page: Sequoia Announces Key Executive Appointments
Sequoia Announces Key Executive Appointments
Sequoia Financial Group, LLC, an SEC-registered wealth manager with $29.9 billion in assets under management as of Sept. 30, 2025, announced several key executive appointments as part of its long-term strategic growth plan.
Effective Jan. 1, 2026, Annie McCauley, currently chief client experience officer, will become president of Sequoia Financial, assuming the role from Tom Haught, founder, chairman and chief executive officer. Joe Glick, chief operating officer and chief financial officer, expands his role to include investment research. Chris Thom, currently chief strategy and partnerships officer, will become chief growth officer.
Sequoia Financial’s executive team also includes Gee Smith, head of Sequoia Sentinel Family Office; Justin Stets, head of integrated wealth services; and Kevin Tichnell, chief acquisitions officer. Stets joined the firm in April 2025 when Sequoia Financial acquired Carlson Capital Management, where Stets served as CEO.
As president, McCauley will be responsible for executing Sequoia Financial’s strategy, organic growth plans, and team development. She will also continue to lead the firm’s advisors nationally. McCauley first joined Sequoia Financial as an intern in 1999 and in 2002 became a financial advisor. She was named managing planner in 2008, managing director of family wealth in 2015, chief client experience officer in 2021, and executive vice president in 2023.
Glick continues to lead investment operations, client services, technology, organizational development, compliance, and finance. He joined Sequoia Financial in 2023 and has extensive experience in systems and operations in the banking and brokerage industries.
As chief growth officer, Thom will assume responsibilities for Sequoia Financial’s wealth planning, estate planning, tax planning, and retirement plan services. He will continue to oversee strategic partnerships as well as marketing and communications. Thom joined Sequoia Financial in 2024 and has more than 20 years of wealth management experience.
Haught’s role will shift from day-to-day execution to long-term enterprise strategy, growth partnerships and capital formation. He will continue to focus on mentoring and leading the executive team and fostering Sequoia Financial’s team-based and client-centric culture.
Haught said, “Today’s leadership appointments mark a significant milestone for Sequoia Financial as we continue to build a durable firm that will serve families and businesses for generations. We have a history of thinking ahead and reinvesting in our business, both for today and for the firm we want to be in the future. We counsel our clients daily on thoughtful planning and take the same approach internally. These changes recognize the contributions of our entire executive team and allow me to focus more on activities that will accelerate Sequoia Financial’s growth and innovation, while continuing to mentor our leaders.”
Sequoia Financial supports more than 11,500 client households across the wealth continuum and has served high-net-worth individuals and families for more than three decades. The firm launched Sequoia Sentinel in 2023 to expand its family office capabilities.