Edelman Financial Services, a Virginia-based financial planning firm with over $20.6bn in assets, has appointed Jon Isaacson as its new CFO, and Rene Chaze to the newly created position of chief development officer.

As CFO, Isaacson will head the firm’s accounting, finance, budgeting, forecasting, treasury, tax and financial analysis areas.

Isaacson most recently was the managing director of buyouts at American Capital. Previously, he also worked at Thayer Capital Partners, GTCR Golder Rauner, Morgan Stanley, and McKinsey.

Chaze joined Edelman in 2011, and prior to that served as a partner at Ernst & Young.

Edelman CEO Ryan Parker said: “Rene will leverage his deep understanding of all aspects of our firm, along with his strong relationships across the financial services industry, to further expand the avenues by which Edelman Financial Services can serve the needs of clients through our unique combination of education, advice, investments and service.”