$2B RIA and $300M firm team up in California

The move focuses on women advisers, succession planning

Jan 21, 2016 @ 4:12 pm

By Alessandra Malito

EP Wealth Advisors, a fee-only financial advisory firm based in Torrance, Calif., with $2 billion in assets under management, has merged with Ballou Plum Wealth Advisors, a San Francisco-based firm with $300 million in AUM.

The merger announced Wednesday is part of a five-year plan for EP Wealth Advisors, which has offices in San Francisco, West Los Angeles, Irvine, Calif. and Denver, to expand its business.

The merged company also puts a greater spotlight on financial planning for women. Ballou Plum co-founders Lynn Ballou and Marilyn Plum, both of whom are certified financial planners, started the firm in 1998 and work with high-net-worth clients, with a particular focus on women clients.

“Ballou Plum Wealth Advisors are more than a good partner, they are at the forefront in the shift in financial services and they help us meet the market's demand for more female advisers, which is part of a culture shift in financial services,” Patrick Goshtigian, president of EP Wealth Advisors, said in a press release.

For Ballou Plum, the move meant a good succession plan for the firm and its clients.

“Even though Lynn and Marilyn plan to work for many years to come, EP Wealth Advisors shares a similar client-centric approach and it comes with a built-in, long-term succession plan, so the firm will continue to serve clients in the same quality way,” David Selig, chief executive and founder of Advice Dynamics Partners, a mergers and acquisitions consulting firm, said in a statement.


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