Tiburon Reports Incorrect AUM Total for Edelman Financial
For Immediate Release
December 19, 2008
Media Contact:
Mark Bagley
703-227-0541
mbagley@RicEdelman.com
Tiburon Reports Incorrect AUM Total for Edelman Financial
Edelman's assets drastically understated in report
FAIRFAX, Va., Dec. 19 - A recent Tiburon Strategic Advisors report which profiles companies in the financial services industry incorrectly reports total assets under management for Edelman Financial Services.
Tiburon's November report, Financial Advisor Profiles: Learning Best Practices by Profiling Leading Firms, lists EFS's total assets under management as $1.8 billion. The firm's actual AUM was $3.4 billion, as of Sept. 30.
Compounding its gross inaccuracy, the Tiburon report says Edelman's AUM is "down nearly 50% from 2007." In fact, the firm's assets under management has steadily risen for more than 20 years.
"Tiburon's report is wrong," said EFS Chairman and CEO Ric Edelman. "We are among the most successful firms in the industry, and to suggest that our firm's assets under management have fallen 50% is just grossly inaccurate." He added that he has asked Tiburon to correct its data.
Edelman added 80 employees during 2008, bringing total employment to 210, and the firm is expecting to hire another 100 to 150 people in 2009.
Financial Advisor magazine's 2008 Registered Investment Advisor Survey listed Edelman Financial Services as the 11th largest firm in the nation, based on assets under management.
Ric Edelman is an Investment Advisor Representative and offers advisory services through Edelman Financial Advisors LLC and Edelman Financial Services LLC, SEC registered investment advisers. Ric is also a Registered Representative of and offers securities for Edelman Financial Services LLC through SMH Capital Inc., an independent broker/dealer, member FINRA/SIPC.
Rescue Your Money, written by award-winning financial advisor Ric Edelman, is your personal investment recovery plan.
