Edelman Financial Services names new CEO

Fairfax-based Edelman Financial Services announced Tuesday it has named Ryan Parker chief executive officer, effective June 20.

Parker, most recently managing director of investment and planning solutions at LPL Financial, will take over the top role from Ric Edelman, Edelman Financial Services’ founder and chairman.   

“My wife, Jean, and I created the firm 30 years ago… but as the firm has grown, more of my time has been diverted to management activities,” Edelman said in a statement. “Ryan's addition will enable me to focus on what matters most: our clients.”

Parker and Edelman will establish the firm's strategic direction as it continues to expand its client base across the country. Parker will also lead the daily operations of the firm, which manages $16 billion for more than 30,000 individuals and families.

Parker has 18 years of experience in the financial services industry, including worked at Russell Investments, Franklin Templeton Investments and Putnam Investments.

He earned a bachelor’s degree in political science from the University of Michigan at Ann Arbor.

Edelman Financial has 125 financial planners. It has added 15 financial planners to the firm this year and seeks to add 35 more.