Edelman CEO Backs 401(k) Alternatives With Personalized Advice as DOL Rule Draws 37,000 Comments
Updated
Updated · Wealth Management · Jun 11
Edelman CEO Backs 401(k) Alternatives With Personalized Advice as DOL Rule Draws 37,000 Comments
1 articles · Updated · Wealth Management · Jun 11
Summary
$326 billion Edelman Financial Engines said 401(k) plans should offer alternative investments, but CEO Ralph Haberli argued access should be paired with personalized guidance on suitability and allocation.
Less-liquid assets can fit retirement portfolios because of their long time horizon, Haberli said, yet their complexity, limited price transparency and difficulty to exit make one-size-fits-all use risky.
A proposed Labor Department rule is driving the debate by easing the path for alternatives in 401(k)s; supporters say it broadens access, while critics warn about high fees and savers being locked out of needed cash.
Haberli tied the push to Edelman's business model, saying workplace savers can escalate from basic planner help to full advisory relationships—part of a growth strategy he has been shaping since becoming CEO in late 2025.