Edelman Financial Engines Promotes Gilfedder to CIO

The financial planning company is fulfilling its succession plan with the internal hire.

Neil Gilfedder

Edelman Financial Engines announced in a press release that Neil Gilfedder has been promoted to CIO and executive vice president, effective March 1.

In the new role, Gilfedder reports to Larry Raffone, Edelman Financial’s president and CEO, and Gilfedder will serve as the chairman of the firm’s investment committee, according to the release.

Gilfedder was promoted “now [to] take our investment management expertise into our next phase of growth,” Raffone stated in the release.

“Neil’s experience, deep institutional knowledge and commitment to our clients positioned him as the natural successor to lead our investment management function,” Raffone stated.

Gilfedder was previously a senior vice president for portfolio management and managed the team responsible for operations and quality control of client portfolios across the company’s wealth planning and workplace businesses, representing more than 1.3 million clients and $242 billion in assets, according to the release.

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“In the current volatile macroenvironment, we play a vital role in helping our clients align their investment and planning strategy to meet their goals,” Gilfedder said by email. “My priority right now is on guiding our clients through these uncertain times and helping them understand what is going on and the impact on their portfolio.”

Gilfedder has been at Edelman since 2014, according to the company, and he said he plans to focus on continued growth.

While these “types of internal promotions do not make very exciting news, they are benchmarks of a strong culture that reinforces engagement,” says George Wilbanks, founding partner of financial executive recruitment firm Wilbanks Partners, via email.

Promoting Gilfedder advances the succession plan at Edelman—he succeeds Chris Jones, who had served as the CIO since 2001, according to the release. Jones is transitioning to a special adviser role with the firm.