On December 14, 2023, Edelman Financial Engines, LLC announced that it acquired New England Pension Plan Systems, LLC.
Under the terms of the transaction, Edelman Financial Engines, LLC (“Edelman”) announced that it acquired New England Pension Plan Systems, LLC (“NEPPS”), and its affiliate New England Investment Consultants (“NEIC”), a registered investment advisor. Further terms of the transaction were not disclosed.
Edelman, based in Santa Clara, California offers wealth management including investment management, retirement planning, tax planning, estate planning and small-business solutions. As of December 2023, Edelman had $245 billion in assets under management.
NEPPS, based in Providence, Rhode Island, is a national, full-service retirement-plan consulting firm offering various levels of advisory and consulting services to employee benefit plans. As of December 2023, NEPPS had $1.5 billion in assets under management. DeVoe & Company served as financial advisor to NEPPS on the transaction.
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