Acquisition bolsters EP Wealth’s presence in San Diego and adds more than $400M in AUM
TORRANCE, Calif. – June 4, 2018 – EP Wealth Advisors, LLC (“EP Wealth”), a leading independent registered investment advisor (“RIA”) that specializes in client-centric financial planning and investment management services, has announced its acquisition of Donnelly Wealth Advisors, Inc. (“DWA”) in San Diego, Calif., expanding EP Wealth’s presence in the region.
DWA is an independent RIA firm that was founded by Richard “Rich” Donnelly in 1997. The firm is known for taking a specialized approach to managing client wealth and providing a comprehensive view of the client’s finances within the context of their larger goals and objectives. Donnelly earned the Registered Life Planner® designation which encourages a more holistic approach to planning with a focus on the client’s goals, an approach closely mirrored by EP Wealth. Donnelly will assume the role of Regional Director at EP Wealth. Two key next-generation financial planners will assume new roles, as well, with Bradley Owen, CFP®, serving as Senior Vice President and Senior Wealth Advisor, and Adam Werner, CFP®, serving as Vice President and Wealth Advisor. Donnelly, Owen and Werner will all become Partners at EP Wealth.
“DWA is one of the largest and fastest-growing fee-only RIAs in San Diego, and its multi-generational team will provide us with strong organic growth as we continue to enhance EP Wealth’s San Diego presence,” said Patrick Goshtigian, CFA, President and CEO of EP Wealth. “Their team takes a personalized approach to financial life planning and emphasizes the individual client relationship. This philosophy aligns closely with our own goals and what our clients expect when working with us.”
“EP Wealth places the client at the forefront, and we built our business using the same approach. This stands out among major RIAs in the industry,” said Donnelly. “Our shared values attracted us to EP Wealth, and we quickly recognized how their in-house expertise could supplement our own to enhance the client experience. Coupled with their additional technology resources and compliance support, we knew this would be a fruitful partnership for our clients.”
This is EP Wealth’s third acquisition in the last 12 months, after acquiring Private Capital Management Associates in San Mateo, Calif. in June 2017 and Millie Capital Management of Walnut Creek, Calif. earlier this year. Today’s transaction is EP Wealth’s second since taking a minority investment from Wealth Partners Capital Group (“WPCG”), a financial services holding company, in July 2017.
“The RIA market is evolving and the environment is favorable for firms that can offer clients a wide range of personalized planning services. EP Wealth and DWA’s combined resources and expertise do just that,” said Rich Gill, a partner at WPCG. “EP Wealth has the tools to enable DWA to spend more time serving its clients by providing a scalable back office infrastructure. We believe this partnership will create the leading wealth management offering in San Diego.”
The acquisition closed on May 30, 2018 and will increase EP Wealth’s assets under management by more than $400 million, as well as adding more than 300 clients. Financial and legal terms of the deal will not be disclosed.
About EP Wealth Advisors
EP Wealth Advisors, LLC (“EP Wealth”) is a fee-only registered investment advisor and financial planning firm based in Torrance, Calif., with additional offices in the San Francisco Bay area, West Los Angeles and Irvine, Calif., Seattle and Denver. The firm manages over $3.6 billion in AUM as of March 31, 2018 and provides client-centric financial planning and investment management services to individuals and businesses. EP Wealth is led by Co-Founders and Managing Directors Derek Holman, CFP®, AIF®, Brian Parker, CFP® and President and CEO Patrick Goshtigian, CFA. For more information, please visit www.epwealth.com.
About Wealth Partners Capital Group
Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which has invested in and partnered with three leading wealth management firms. Through its three partner firms, EP Wealth Advisors, MAI Capital Management and Forbes Family Trust, WPCG is focused on identifying and integrating like-minded registered investment advisors who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. The WPCG management team is led by partners John W. Copeland, Rich Gill and Sean Bresnan. For more information, please visit www.wealthpcg.com.
Marissa Foy Comerford
Gregory FCA for EP Wealth
Miller Geer & Associates for EP Wealth