$3B deal of Edelman, Financial Engines puts other RIAs in the hot seat

In a blockbuster deal seen as remaking the digital advice landscape, robo advice pioneer Financial Engines is being bought for $3 billion and combined with Edelman Financial Services. Private equity firm Hellman & Friedman, which is a majority shareholder in Edelman, agreed to pay $3.02 billion in an all-cash transaction. The deal is expected to be completed by the end of the third quarter. Read More