RetireOne Acquires Edelman Financial’s Broker-Dealer Unit
November 20, 2019 by Allison Bell
RetireOne — a distributor of fee-based annuities and life insurance policies — has acquired a broker-dealer business from an arm of Ric Edelman’s company, Edelman Financial Engines L.P.
Edelman Financial is selling only the EF Legacy Securities broker-dealer unit.
Edelman Financial itself is still operating as a financial planning and investment advisory firm in Sunnyvale, California.
RetireOne bought the broker-dealer business to improve back office support for all registered investment advisors, and especially to advisors who are moving to a fee-based compensation model, from a commission-based model, RetireOne said today in the deal announcement.