Ralph Haberli
Jay Shah has stepped down as Edelman Financial Engines' CEO and the independent advisory firm chose its president, Ralph Haberli, as acting CEO. Shah will stay with EFE in an advisory capacity until year end, the firm announced late Tuesday.
As EFE president, Haberli oversees the firm’s wealth planning and workplace investment advisory businesses. He previously was president of Capital Group's institutional and retirement client group and held senior leadership roles at BlackRock.
“Ralph has already proven himself a strong leader at Edelman Financial Engines, using his vast retirement and industry leadership experience to deliver even more value to our clients. His expertise will be invaluable as we aim to continue to unlock growth at scale, making advice more accessible through our unique market position and capabilities," Edelman's board said.
"Ralph is fully empowered to lead EFE forward as the Board evaluates the company’s long-term needs for the CEO role. We thank Jay for stewarding the firm’s continued growth and transformation over the last few years.”
The firm added that Shah assembled a skilled and collaborative executive team, instituted a new business and growth strategy, and managed significant investments to modernize business operations and improve client experience.
“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," said Shah, who also expressed confidence in Haberli and company leadership.
Edelman has 1.3 million clients and manages over $308 billion in assets.
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