Edelman Financial Engines (EFE) announced that it acquired Eau Claire, Wisconsin-based Hasenberg Financial Group, which manages over $300 million for more than 750 clients, founded and led by Chris Hasenberg. Hasenberg Financial will integrate with EFE and take its branding.
Hasenberg Financial provides financial advisory services with a focus on estate planning and financial education events, EFE said. EFE said the acquisition expands its Midwest footprint and strengthens its estate planning services.
“Foremost, we seek out partners who share our uncompromising client-first ethos,” according to Jay Shah, CEO of Edelman Financial Engines. “Chris has built his vibrant business with an admirable dedication to financial education and a focus on serving clients’ best interest.”
Shah added, “It is incredibly rewarding to connect with a firm that mirrors our values and approach to wealth planning, and we’re excited to welcome the Hasenberg team and their clients to EFE.”
“Acquisitions like Hasenberg play a vital role in our focus on growth and mission to make comprehensive financial planning and advice more accessible,” according to Suzanne van Staveren, CFO and COO at EFE.
“We are highly focused on discovering and exploring the potential of firms with a strong culture and exciting growth trajectory and then further empowering those teams with the backing of Edelman Financial Engines’ deep capabilities, scale, and bench,” she added.
“When I founded Hasenberg Financial Group, my goal was always simple: to help people enjoy life more and worry less through clear, transparent, and client-first financial planning,” according to Hasenberg.
“Edelman Financial Engines shares those same values and philosophies, and that alignment made this decision an easy one,” he said. “By joining forces, our clients will continue to receive the personal care and trusted guidance they’ve always known, while our team gains access to the unmatched resources, technology, and expertise of EFE.”
EFE said this is its ninth acquisition in the past three years. In May, EFE said it acquired Cahill Wealth Management in Kalamazoo, with about $426 million for 125 clients. EFE serves 1.3 million U.S. clients and manages over $308 billion in assets, with a team of 1,600 professionals at over 140 offices.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
