Southern California RIA looks to acquire

Torrance, Calif., based firm has expanded into San Diego and Orange County, and has bigger aspirations

Oct 15, 2013 @ 1:43 pm

By Trevor Hunnicutt

+ Zoom

An independent financial advisory firm in Southern California with $1.4 billion in assets under management is opening its wallet and looking for deals.

Torrance, Calif.-based EP Wealth Advisors Inc. is looking to acquire other firms in Southern California, according to the president of the fee-based registered investment adviser.

“We've been able to achieve strong organic growth and were fortunate for that, but part of why I was hired in 2011 — two years ago — was to institutionalize the business and achieve additional growth,” said the president, Patrick Goshtigian, in an interview. “It allows us to provide an opportunity to benefit from the scale we're starting to achieve and provides a mechanism by which they can achieve some succession planning or just take advantage of that scale and be able to focus more on their clients and growth of their client base.”

EPWA has partnered with Advice Dynamics Partners LLC to manage the process.

Mr. Goshtigian said his firm is likely looking for independent advisers managing between $100 and $300 million in assets. The firm has ambitions to reach $5 billion in managed assets overall, he said.

EPWA was formed in 2004, the product of a merger between Premier Financial Management LLC and Enright Financial Consultants Inc.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

Ron Carson explains the origins of 'Ronsense'

To take his message to the masses, Ron Carson has launched a "Ronsense," a web series on Twitter that features some of his pearls of wisdom. Learn about how it all started.

Video Spotlight

The Search for Income

Sponsored by PGIM Investments

Recommended Video

Path to growth

Latest news & opinion

Finra ranking brokers in effort to crack down on industry's bad apples

All 634.403 reps have been ranked based on factors such as prior regulatory disclosures, disciplinary actions and employment history.

How to save retirement planning from tax reform

Losing big deductions, even in lieu of a larger standard deduction, may cause taxes to rise in retirement.

Advice firms in a tricky financial position

As revenue growth dips and salaries rise, nearly 90% of firms are at or near capacity.

In a turnaround, Wells Fargo Advisors sees slight bump in headcount

Racked by a scandal in its retail banking unit, Wells still managed to add 37 new advisers in the third quarter, a small number but an improvement nonetheless.

Social Security benefits to increase by 2% in 2018

Largest cost-of-living adjustment since 2012 may be offset for some by higher Medicare premiums.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print