Edelman Hires Retirement Advisory Veteran Christian Mango

Edelman Financial Engines has hired Christian Mango as senior vice president and retirement advisory practice lead, a newly created role, per WealthManagement.com. Mango will lead growth of the retirement plan services business and oversee acquisitions and advisor recruiting for the division.

Mango previously worked at OneDigital and Alera Group, where he was national practice leader for retirement plan services. The Santa Clara, Calif.-based RIA oversees more than $300 billion in assets and serves over 1 million clients. Mango said the firm aims to reach people earlier in their financial lives by connecting workplace retirement benefits with financial planning and personalized advice.

He also noted that many of Edelman's clients own small businesses that need 401(k) advice and management, calling it 'a tremendous opportunity' for retirement plan advisors to join the firm.

The hire signals Edelman's strategic push to capture clients through workplace retirement plans and convert them into wealth management relationships. Mango's background in acquisitions and recruiting suggests Edelman may look to expand its retirement plan services arm through deals or advisor hires.

For Edelman, the workplace channel is a way to reach clients earlier in their financial lives. The firm already manages a large pool of retirement assets, and adding an executive with M&A and recruiting experience suggests it plans to build out this business aggressively.

The fact that Edelman's client base includes many small-business owners gives it a ready-made market for retirement plan services. That could make it an attractive destination for advisors who specialize in this area.

Given Mango's mandate, Edelman is likely to pursue acquisitions and advisor recruiting in the retirement plan space.