Acquisition expands EP Wealth’s presence in the San Francisco Bay area and bolsters in-house investment management expertise
TORRANCE, Calif. – October 16, 2019 – EP Wealth Advisors, LLC (“EP Wealth”), a leading independent registered investment adviser (“RIA”) that specializes in client-centric financial planning and investment management services, has announced its acquisition of CPIC International (“CPIC”). The transaction marks EP Wealth’s second acquisition in the greater San Francisco area this year.
CPIC is an investment management firm in San Francisco that offers professional portfolio management and specialized financial services. Founded by Diane Jakubowski and Thomas Bonomo, the firm boasts a 35-year history of designing customized investment solutions for clients. Diane Jakubowski will assume the role of Senior Wealth Advisor at EP Wealth and Thomas Bonomo will assume the role of Business Operations Manager at EP Wealth.
“With its attention to client service, customized offerings and dedication to developing trust, CPIC embodies many of the characteristics central to our philosophy,” said Patrick Goshtigian, CFA, President and CEO of EP Wealth. “Our team continues to seek opportunities that will fortify our offerings for clients and extend our geographic reach. The acquisition will enhance our investment management expertise and build on our momentum in the San Francisco area with a partner who shares our vision.”
“Our clients value the personalized approach and comprehensive investment solutions we provide. We strive to serve as the best possible partner to our clients, and we recognized the need to expand our depth to fulfil this commitment,” said Jakubowski. “EP Wealth has committed to large-scale investment management resources that include technological tools and client-centric resources. The partnership opens doors to new financial planning services for our clients and their financial goals.”
This is EP Wealth’s eighth acquisition since taking a minority investment from Wealth Partners Capital Group (“WPCG”), a financial services holding company, in July 2017. Earlier this year, the firm acquired Personal Financial Consultants in Lafayette, Calif., Conlon Dart Wealth Management in Seattle and Pathlight Investors in Phoenix. The latter mark the fourth and fifth regional expansions for the California-based firm. In 2018, the firm acquired Rampart Wealth Advisors of Greenwood Village, Colo., Donnelly Wealth Advisors of San Diego, Caves & Associates, Inc. of Manhattan Beach, Calif., and Millie Capital Management of Walnut Creek, Calif.
“EP Wealth continues to be on the leading edge of the RIA space, and the firm has been strategic, thoughtful and deliberate in its growth trajectory. The team becomes a greater force in the industry with each acquisition,” commented Nick Trepp, a Senior Associate at WPCG.
The transaction will increase EP Wealth’s assets under management by roughly $110 million and add 55 new clients to its roster. The acquisition closed on October 14, 2019. 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 adviser and financial planning firm based in Torrance, Calif., with additional offices in the San Francisco Bay area, San Diego, West Los Angeles and Irvine, Calif., Seattle, Phoenix and Denver. The firm manages more than $5.9 Billion in AUM as of September 30, 2019, 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® and 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 partnered with EP Wealth Advisors (“EP Wealth”). WPCG assists EP Wealth by identifying and integrating like-minded registered investment advisers 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