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Santa Clara, CA – June 24, 2025 – (EFE), the nation’s leading independent wealth planning¹ and workplace² investment advisory firm, announced the appointment of Michael Liersch as Chief Planning Officer, effective August 29, 2025. In this newly created role, Liersch will lead the firm’s strategic agenda around financial planning, advice, and solutions, evolving the firm’s offering to respond to the dynamic needs of clients. He will report directly to CEO Jay Shah.

“Many people think money management is just about dollars and numbers—but it’s really about emotion and trust. That makes it inherently behavioral,” shared Jay Shah, CEO of �������� Engines. “Michael’s expertise at the intersection of planning, advice, and solutions, combined with his behavioral finance background and a unique perspective on the human side of money, makes him an exceptional fit. His leadership will be instrumental in helping us fulfill our purpose and to realize our vision of being the financial planning firm.”

As Chief Planning Officer, Liersch will drive collaboration between investment management and the teams responsible for planning, educational content, and advanced advice. The role is distinct from the firm’s recently announced President, Ralph Haberli, who will focus on business channel growth and operational excellence.

“What drew me to �������� Engines is its keen awareness that money decisions are deeply intertwined with people’s hopes, fears, and dreams,” said Liersch. “Having grown up in a household where every dollar mattered, I understand firsthand how financial uncertainty can shape one’s relationship with money. My experience instilled in me a deep belief that financial planning isn’t just about figures—it’s about dignity, opportunity, and peace of mind. EFE’s commitment for nearly four decades to holistic, client-first advice aligns with my belief that financial planning should empower people to live the lives they envision. I’m excited to help shape and modernize the future of planning so that more individuals—across all generations and savings levels—feel confident, supported, and truly understood in their financial decisions.”

This appointment underscores EFE’s planning-first approach, its continued investment in its strategic capabilities and its belief to always act in the best interests of clients through fee-based, fiduciary advice.

“Bringing on both a new President and now a Chief Planning Officer are more than just leadership moves—it’s a reflection of how deeply we care about serving our clients and helping them thrive. We’ve built a team that can think strategically and act decisively to deliver the kind of advice, solutions, and planning that truly make a difference in people’s lives,”��added��Shah.

Liersch’s academic background and professional experience underscore the vital importance of integrating behavioral context into economic decision-making, highlighting that understanding real human behavior is key to developing effective financial strategies. Liersch most recently served as the Head of Advice & Planning at Wells Fargo. He brings a distinguished record in behavioral finance and wealth planning, having held senior leadership roles at JPMorgan Chase, Merrill Lynch, and Barclays Wealth. He holds an AB in Economics from Harvard University and a PhD in Cognitive Psychology from the University of California, San Diego.

“We are thrilled with the additions of Michael Liersch as Chief Planning Officer and Ralph Haberli as President,” said Allen Thorpe, partner at Hellman & Friedman. “Their passion for excellence and commitment to our clients align perfectly with our values. We look forward to their positive impact on our client experience and our broad solutions. These strong additions to our team show our continued commitment to excellence for EFE.”

Media Contact
�������� Engines
PRTeam@EdelmanFinancialEngines.com

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About �������� Engines

Financial confidence begins with clarity, understanding, and a plan tailored to your life. At �������� Engines, we believe money is personal—tied to your hopes, your family, your future. That’s why since 1986, we’ve been committed to putting the clients’ best interest first, offering personalized investment advice and financial planning to help you feel secure and supported every step of the way. From your first paycheck through retirement, and for every major milestone and meaningful moment in between, we’re here for you.

Today, we are the nation’s leading independent financial planning and investment advisory firm,¹ trusted by 1.3 million clients to manage over $287 billion in assets. Our solutions are available through your employer or at our 144 offices nationwide.³ We combine cutting edge technology with the personal care of a planner to deliver advice that fits your life—not just your finances.

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1.��The ���������Dz�’s 2024 Top 100 RIA Firms list, a nine-year annual ranking of independent advisory firms, is based on qualitative and quantitative factors. Firms elect to participate but do not pay to be included in the ranking. The 2024 ranking refers to EFE as the top mega RIA.

2.��According to the Cerulli Associates Top Nine Managed Account Sponsors by DC Assets survey of Defined Contribution managed account providers, The Cerulli Edge – U.S. Retirement Edition, 1Q 2025, Issue #74, �������� Engines is the largest managed account provider by DC assets and market share as of Dec. 31, 2024.

3. �������� Engines data, as of March 31, 2025.