California-based EP Wealth Advisors introduced that it has closed on a second East Coast acquisition, and its first in Pennsylvania.
The addition of Warren Monetary Companies & Associates, within the better Philadelphia space, provides round $274 million in shopper property to the rising integrator of registered funding advisors, which now oversees greater than $15 billion by way of 18 places of work in 9 states.
“We’re excited to companion with the Warren Monetary workforce and produce our companies to the Higher Philadelphia Space,” EP CEO Patrick Goshtigian mentioned in a welcome to the incoming agency.
Warren Monetary supplies monetary planning, funding administration and tax and property planning to high-net-worth people and enterprise house owners. The agency is led by founder and Chief Compliance Officer Randall Warren, who will assume the position of senior VP/companion at EP Wealth. 4 advisors and 4 help workforce members may even be part of EP.
“The extra depth and breadth of assets and companies will enable us to give attention to and improve our shopper companies and broaden our attain,” Warren mentioned in an announcement. “We look ahead to a brilliant future as a part of the EP Wealth workforce.”
The transaction closed on Nov. 29, only a month after EP acquired its first East Coast location within the better Boston space. Particulars weren’t disclosed,
Warren marks EP’s twenty fifth acquisition in 5 years. Since taking a minority funding from Wealth Companions Capital Group in 2017, EP Wealth has partnered with corporations in California, Washington, Colorado, Arizona, Illinois, Texas, Utah, Massachusetts and now Pennsylvania. A minority funding by Berkshire Companions in 2020 added renewed momentum to the agency’s formidable plans for continued progress.
“Our ongoing aim is to construct a nationwide agency made up of like-minded entrepreneurs centered on serving shoppers and sustainable progress,” EP President Ryan Parker mentioned, noting that the agency’s “full” pipeline contains M&A targets in established areas in addition to new markets. “We count on so as to add extra corporations on the East Coast within the subsequent few months.”