Edelman Financial Engines Appoints Ralph Haberli as Acting CEO
Outgoing CEO Jay Shah will remain with EFE until year-end in an advisory capacity.
Ralph Haberli
Edelman Financial Engines announced Tuesday the appointment of Ralph Haberli as acting CEO. Haberli, who was named president of EFE in June, succeeds Jay Shah, who, according to the announcement, has “decided to step down after an effective period in which he repositioned the business for growth.”
Shah, named CEO in 2023, will remain with EFE until the end of the year, serving in an advisory capacity, the company said.
As president, Haberli oversaw the firm’s wealth planning and workplace investment advisory businesses.
“I am excited to build upon Edelman Financial Engines’ entrepreneurial legacy and innovative spirit to fuel growth and momentum across our workplace, retirement account advice, and wealth planning businesses,” Haberli said in a statement.
Before joining EFE, Haberli served as the president of Capital Group’s institutional and retirement client group and held senior leadership roles at BlackRock. He started his career at the Boston Consulting Group.
In a statement, Shah said it had been an honor to lead EFE, adding, “I feel incredibly confident in Ralph and the expert leadership team we’ve assembled that will carry our strategy and unwavering service to our clients into the next era.”
EFE had more than 1.3 million retirement plan participant clients and more than $308 billion in assets under management as of June 30. The company has provided investment advice solutions to defined contribution plan sponsors and participants for more than 20 years.