Franklin Templeton and TIFIN collab on financial wellness
TIFIN, a leading AI platform for wealth, and Franklin Templeton, are partnering to launch TIFIN @Work, a financial wellness solution designed to enhance employees’ wellbeing.
TIFIN will partner with Franklin Templeton’s Workplace Retirement Distribution Business to deliver TIFIN @Work to plan advisers and the employers they serve. The announcement builds on the existing relationship between the firms that began during TIFIN’s Series D round in May of 2022.
“Blending the deep investment expertise and digital capabilities of Franklin Templeton with the data-enriched Tifin @Work platform is a game-changer for advisors looking to expand their practice beyond retirement accounts to wealth solutions,” said Harshendu Bindal, managing director of Digital Strategy and Wealth Management at Franklin Templeton. “The experience delivers a truly unique financial wellness offering for plan sponsors that considers the holistic investment needs of participants, providing digital education with clear and seamless paths to help them invest for their goals.”
“This partnership combines TIFIN’s technological innovation in AI with Franklin Templeton’s deep plan adviser network and expertise in the defined contribution industry,” said Dr. Vinay Nair, founder & CEO of TIFIN.
EFE welcomes CMO
Edelman Financial Engines (EFE) announced that Megan Hanley has joined the firm as chief marketing officer, effective January 3. Hanley will report to EFE chief executive officer Jay Shah.
“We’re thrilled to welcome Megan to EFE. She’s a versatile marketing leader with a track record of driving growth and reaching financial consumers in early-stage ventures as well as established companies,” said Shah. “Megan is a perfect fit for our client-first culture, and she’ll be instrumental in attracting more investors who are in need of sound, holistic financial planning and investment advice.”
With more than 25 years of experience in financial and professional services, Hanley will oversee EFE’s marketing functions to further propel the brand’s growth and development. She will be responsible for established and emerging strategies that meet people how, when and where they prefer at the right stage of their financial lives.
“Throughout my career, I have been drawn to customer-centric companies that look to harness the power of people and technology to address the financial needs of consumers, and EFE was one of the first to do so by helping millions of Americans save and invest for retirement,” noted Hanley. “EFE has established the highest standards for the financial planning industry to follow and I’m excited to build upon the firm’s legacy as a pioneer in wealth management.”
Prior to joining EFE, Hanley was chief marketing officer at Forge Global, a publicly-traded marketplace for researching, buying, and selling private company stocks. Prior to Forge, she held CMO positions at Achieve Financial, Helix, and ShopRunner. She has also held marketing leadership roles at Microsoft and Esurance. Hanley earned a bachelor’s degree in business administration from University of Notre Dame, and a master’s in business administration from Duke University.
HUB announces new hire to WRG
Wise Rhino Group (WRG), an M&A advisory practice representing wealth and retirement advisory, third-party administration and financial services industry technology firms, announced that its’ client, Bob Gottschling, has agreed to join HUB. Terms of the transaction were not disclosed.
Since 1988, Gottschling has been an advisor with Lincoln Financial/Sagemark Consulting. Located in the Greater Washington, D.C. region, Gottschling’s practice provides wealth advisory/personal planning services and retirement plan consulting, among other services. Gottschling is also designated as a chartered financial consultant, chartered mutual fund consultant, and a chartered retirement plans specialist.
“Bob has built one of the top retirement and individual wealth consulting practices in the Mid-Atlantic region in the last 25 years,” shares Peter Campagna, a partner with Wise Rhino Group. “Combining that advisory experience with an expertise in corporate strategic incentive consulting has allowed him to serve his clients at a very high level. HUB brings an enormous level of support and resources to Bob and is a perfect platform to meet his clients’ unique and changing needs. Adding a practice like Bob’s also further strengthens HUB’s already significant financial services presence in the DC Metro area.”
Mercer acquires Denver-based wealth manager
Mercer Global Advisors, Inc. has acquired Wealth Management, LLC, a comprehensive wealth management firm located in Denver, Colorado.
TWM was founded in 1999 by Bruce R. Bendell, CPA/PFS, and Gary P. Saltzman, CPA/PFS, among others. They were later joined by shareholders Michelle R. Sandt-Wade, CFP®, and Michael G. Simmons, CFP®, and now serve over 400 clients with assets under management (AUM) of approximately $465 million.
“We believe in providing holistic and comprehensive financial planning for our clients by addressing their financial needs. Our commitment to that high level service has fueled our rapid growth in Colorado and beyond,” said Bendell.
“That said, and to take the next appropriate steps to expand and institutionalize our business, After conducting an extensive search with our investment banker Advisor Growth Strategies, we found our right partner after meeting with David Barton, Vice Chairman who heads up mergers and acquisitions for Mercer Advisors, and other Mercer Advisors personnel,” he continued.
Dave Welling, Chief Executive Officer of Mercer Advisors, added, “Their addition boosts our strength in Colorado where we have multiple offices, dozens of advisors, and Denver is home to our national headquarters. We are thrilled they are joining the Mercer Advisors team. We look forward to working together to deliver meaningful results for our shared clients.”
Waverly Advisors acquires StrategIQ
Waverly Advisors, LLC has acquired the investment advisory business assets of StrategIQ Financial Group, LLC, headquartered in Merrillville, Indiana, with offices in the greater Chicago area, and Northwest and Central Indiana.
This is Waverly’s largest transaction since the firm initiated an M&A-focused growth strategy in 2021. This acquisition increases Waverly’s assets under management (AUM) by approximately $1.5 billion and expands the firm’s geographic footprint through new offices in Illinois and Indiana.
StrategIQ has a team of over 20 advisors, client service associates, investment analysts, and operations team members, and will be the largest RIA to join Waverly to date.
“From the start, we set out to create a new kind of wealth management firm: an independent organization that delivers personalized and holistic financial planning and investment advice to help our clients achieve their financial goals, providing the freedom to live out their dreams and aspirations. To help grow our organization, gain access to new markets, and expand on the wealth of services we provide, we wanted a partner that shares our values and we found that in Waverly,” said Chad Hassinger.
“When Waverly started exploring acquisitions, our vision was to do M&A differently,” said Josh Reidinger, CEO of Waverly. “Waverly’s desire is to build a world-class, cohesive, and integrated firm, fully focused on its culture and its clients. The StrategIQ team aligns with that vision, and we are thrilled to have them join the Waverly family.”
The acquisition of StrategIQ represents Waverly’s eleventh transaction since accepting an equity investment in December 2021 from Wealth Partners Capital Group (WPCG) and HGGC’s Aspire Holdings platform. The transaction closed on January 1, 2024, bringing the firm’s total AUM to approximately $9.8 billion. Financial and legal terms of the deal will not be disclosed.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.